Fujitsu 2008 Annual Report Download - page 72

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<Reporting system>
a. Senior management of Fujitsu and Group companies provides the statutory auditors with the opportunity to attend
important meetings.
b. In cases where risks arise that could affect management or financial results, or where there is an awareness of major compliance
violations in connection with the execution of business activities, senior management as well as employees of Fujitsu and Group
companies immediately report on them to the statutory auditors.
c. Senior management as well as employees of Fujitsu and Group companies periodically report to the statutory auditors on the
status of business execution.
<Ensuring effectiveness of statutory auditors>
a. Senior management of Fujitsu and Group companies periodically exchange information with the statutory auditors.
b. The internal audit organization periodically reports to the statutory auditors on audit results.
c. The auditors have the independent accounting auditor explain and report on accounting audits as required and periodi-
cally exchange information with the independent accounting auditors.
*2 Embodying the mission, values, and code of conduct of the Fujitsu Group, the Fujitsu Way has provided the guiding principles for the conduct of the Group
and its employees. In order, however, to provide a more enduring and universal as well as simple message that could be put into practice and instilled through-
out the Fujitsu Group, on April 1, 2008, Fujitsu published a fully revised version of the Fujitsu Way consisting of a Corporate Vision, Corporate Values, Principles,
and Code of Conduct.
[Status of Internal Control System]
Fujitsu has established a department with executive responsibility for internal controls. The company is, moreover, pursuing initiatives to
implement an even more robust operational execution structure by reviewing and revising its regulations and business operations.
In addition, Fujitsu has established the Fujitsu Way, consisting of a Corporate Vision, Corporate Values, Principles, and Code of
Conduct, which guides the Group and its employees in their daily activities.
To accelerate the penetration and implementation of the Fujitsu Way and ensure the appropriateness of business operations, four
groups were established directly under the Management Council and tasked with pursuing more robust and efficient business execu-
tion: the Fujitsu Way Promotion Council, the Risk Management Committee, the Compliance Committee and the Environmental Com-
mittee. The functions of each are described below:
• Fujitsu Way Promotion Council
The Fujitsu Way Promotion Council promotes the inculcation and implementation of the Fujitsu Way. In addition, it has also been
promoting Project EAGLE, which was launched as a company-wide activity for building an internal compliance system for effective
and reliable financial reporting in compliance with the Securities and Exchange Law. By establishing a promotion organization dedi-
cated to this endeavor, the Council has been working to extend it across the Group. Along with improving deficiencies, the goals of
the project also include achieving greater efficiency through the pursuit of business process reforms across the Group.
We are taking into consideration the opinions of our accounting auditors as we build an internal control system that will ensure
the validity and reliability of our financial reports.
070
ANNUAL REPORT 2008FUJITSU LIMITED
CORPORATE GOVERNANCE