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110 Huawei Investment & Holding Co., Ltd. 2014 Annual Report
The SDC held 12 meetings and two special sessions in
2014. Based on the practice over the past two years,
the SDC strengthened review of regional strategies, and
enhanced strategic alignment, synergy, and execution.
In accordance with the positioning and responsibilities
determined by the BOD, the SDC continued to guide
business units to build future-proof core competences
along the path of strategic focus, innovation,
differentiation, and leadership. On this basis, the SDC
aims to make the industry pie bigger, formulate the
future development strategy, and promote its execution
to support the company's long-term development.
The SDC comprises 15 members, including BOD
members, senior business executives, and various senior
experts.
■ Chairman: Mr. Xu Zhijun.
■ Members: Mr. Guo Ping, Mr. Hu Houkun, Mr.
Xu Wenwei, Mr. Li Jie, Mr. Ding Yun, Ms. Meng
Wanzhou, Mr. Yu Chengdong, Mr. Li Yingtao, Mr.
Liang Hua, Mr. Zhang Ping'an, Mr. Zha Jun, Mr.
Deng Biao, Mr. Wang Shengqing, and Mr. Zhang
Shunmao.
Audit Committee
The Audit Committee (AC) operates under the BOD
to oversee internal controls, including the internal
control system, internal and external audits, corporate
processes, legal compliance, and adherence to BCGs.
The main responsibilities of the AC are to:
■ Approve the annual internal audit plan, and review
its scope, required resources, and audit outputs.
■ Approve corporate policies for internal controls;
approve the corporate development plan for internal
controls and the plan's key milestones; and regularly
assess the company's internal control status.
■ Evaluate the effectiveness of the ethics and
compliance function, legal compliance, and
adherence to corporate policies.
■ Approve the selection of the external auditor, notify
the BOD of any proposed change to the external
auditor for approval, approve related budgets, and
evaluate the work of the external auditor.
■ Supervise the completeness, accuracy, and legal
compliance of the company's financial statements;
and review compliance with accounting policies and
all financial disclosures.
■ Approve internal control KPIs at the beginning of
each year, and instruct GPOs and business executives
to report internal control results.
The AC holds quarterly meetings and convenes special
sessions as necessary. Business executives and various
experts are invited to attend as non-voting participants.
The committee held seven meetings in 2014. Focusing
on topics such as risk management, the development
of the internal control system, and anti-corruption, the
committee:
■ Reviewed and approved the company's annual
internal audit plan and annual plan for internal
controls on global processes.
■ Received reports on Internal Control Maturity trends,
SACA, internal control improvements by GPOs,
assessments on the internal control framework
and accountability system, and the anti-corruption
roadmap.