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Internal Auditing Systems

Group Internal Auditing

We believe that the role of the internal auditing is extremely important in to attain the Resona Group’s Corporate Mission of “live up to customers’ expectations” and “implement transparent management”. Accordingly, we have established internal audit divisions at Resona Holdings and Group companies.

In order to ensure sound and appropriate operations and to gain social trust in the business management systems established by the Company and Group companies, the internal audit divisions serve the essential function of facilitating improvements in corporate value by verifying and evaluating the systems from an independent standpoint and promoting improvements as needed in all management activities.

Organization

The Company and Group companies have established independent internal audit divisions under each board of directors.

Moreover, we have formed an “Internal Audit Council” in the Company and Group companies, separate from the “Executive Committee,” to discuss important matters related to internal auditing.

The Internal Audit Division of the Company reports to the Board of Directors and the Audit Committee for its function and to the Representative Executive Officers for its administration. In addition, by ensuring direct reporting line from the Audit Committee to the Internal Audit Division, we strengthen the monitoring and check-and-balance functions performed over the Representative Executive Officers and Representative Directors of the Group companies.

Group Internal Auditing Systems

Functions and Roles

To guide the formulation of plans for internal auditing, the Internal Audit Division of the Company formulates the Annual Internal Audit Basic Plan of the Company and the Group, including the Group’s annual policies, the targets of auditing, and key items and secures approval of the Board of Directors after discussion with the Audit Committee.

The internal audit division of each Group company formulates its Annual Internal Audit Basic Plan based on prior discussion with the Internal Audit Division of the Company and secures approval of respective board of directors.

The internal audit divisions at the Company and its Group companies conduct audits based on the Annual Internal Audit Basic Plan.

The results of internal audits of the Company are reported to its Board of Directors, the Audit Committee, and Representative Executive Officers, etc. The results of internal audits of the Group companies are reported to their respective boards of directors and auditors as well as the Company.