Access The Internal Control of Shangri-la Company

Access the internal control of Shangri-la company

Internal control is defined as Systematic measures that been used by accountant and auditor to make sure the goals is achieved, conduct the business in efficient matter, safeguard of asset, to ensure that rules and regulation is being followed, completeness and accuracy of financial record and produce reliable and timely financial and management information. There are a few matters that Shangri-la concerning about of internal control such as:

a. Completeness and accurancy of financial record. Shangri-la company use a system to ensure of appropriateness of business operation of the Group consisting of the Company and its subsidiaries.

Chief Executive Officer of the company which is Mr Lim Beng Chee should discovered the fact and any decision that may cause a substantial damage, or act in violation of the laws, regulations or the Articles of incorporation and other acts outside the scope of the purpose to ensure that proper operation of subsidiaries is well-managed. In addition it also help to ensure the proper operation of subsidiary companies so that the reliability of financial reports by performing the maintenance, construction of internal control system in accordance with the financial statements, together with ongoing assessment, carried out necessary corrections if there are deficiencies, management shall appropriate the Company and to ensure.

b. Ensure that rules and regulation is being followed. Shangri-la company always ensure that their operating business followed the rules. Information Management will make sure that they are following regulation and security guideline about Rules on the handling of personal data, Personal information protection regulation, and Information security policy by proper managing of important document.

c. Ensure that the goals of company is achieved.Promote agile decision-making by the executive officers of small and further strengthen executive power. Set up the goals and objective of company so that the employee will understand and help employee achieved the company objectivity.

d. The management and operating manager should segregate duties amongst executive officers and employee.The manager should divide the duties and work among their staff to make sure that objective of company is achieved. Shangri-la set up the goals for every department and their staff know their roles and responsibility for the company.

e. Safeguard of asset. Shangri-la company established Risk Management Regulation clarify the department responsible for each risk category, endeavor to establish a risk management system. Established a management meeting risk, together with the corresponding consultation on matters relating to risk management, internal control report to the Commission on a regular basis for other conditions.