Mitsubishi 2015 Annual Report Download - page 28
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Please find page 28 of the 2015 Mitsubishi annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Corporate governance framework
Swift and highly transparent management
Mitsubishi Motors employs the Statutory Auditor System pursu-
ant to the Companies Act of Japan. In addition to mandatory
organizations and governance systems, MMC is further improv-
ing its corporate governance by adding an executive of cer
system and the Business Ethics Committee as a Board of Direc-
tors advisory committee.
Mitsubishi Motors’ Board of Directors is responsible for
making decisions concerning important management issues and
overseeing execution. To reinforce the supervisory function, the
Company appoints outside directors. Outside directors provide
supervision and advice on Mitsubishi Motors’ management and
decision making based on their extensive organizational experi-
ence and extensive knowledge about world affairs and social
and economic trends.
In addition, the executive of cer system clari es the roles
and responsibilities of directors and executive of cers. Man-
aging Directors’ Meetings, composed of directors and senior
executive of cers, make speedy decisions in bi-weekly meetings.
Status of statutory audits and internal audits
Verifying the appropriateness and effectiveness of
internal management systems on an ongoing basis
The statutory auditors carry out statutory audits of the Mitsubi-
shi Motors Group by attending important Company meetings,
such as Board of Directors meetings, and receiving reports on
the status of business activities from directors and other corpo-
rate of cers. Also, key internal documents and internal audit
Corporate Governance
reports from internal audit divisions, af liated companies and
accounting auditors are reviewed.
In addition to the statutory auditors, within the CSR Promo-
tion Of ce, Mitsubishi Motors has established the Internal Audit
Department and the Quality Audit Department. Both are inde-
pendent from operating units and conduct internal audits from
an objective perspective.
The Internal Audit Department, meanwhile, conducts
planned internal audits to ensure appropriate operations man-
agement at Mitsubishi Motors and at domestic and overseas
af liated companies. These audits include verifying the appro-
priateness and effectiveness of internal management systems,
including compliance and risk management, and audit results
are reported to management at Mitsubishi Motors and af li-
ated companies. The department also proposes business im-
provements and monitors the status of their implementation.
The department has created internal audit departments at key
overseas subsidiaries and dedicated CSR departments at sales
subsidiaries in Japan, and is working to enhance groupwide
governance in Japan and overseas, and introducing proactive
initiatives to reinforce internal controls.
The Quality Audit Department audits the appropriateness
of quality-related activities by the Quality Affairs Of ce and
internal departments, proposes improvements and monitors
the status of implementation. In scal 2014, the department
reported audit results to top management 69 times and made
two reports to the Business Ethics Committee. The department
also exchanges information with the statutory auditors and col-
laborates on shared issues.
Shareholders’ MeetingShareholders’ Meeting
Corporate Governance Framework (As of June 30, 2015)
Accounting Audit
Accounting AuditorsAccounting Auditors
Report
Report Findings and
Recommendations
Audit
and Report
Audit
Guidance
and Advice
Cooperate
ChairmanChairman
PresidentPresident
Managing Directors’
Meetings
Managing Directors’
Meetings
Board of Statutory Auditors
(5 members, of whom
3 are outside auditors)
Board of Statutory Auditors
(5 members, of whom
3 are outside auditors)
Business Ethics CommitteeBusiness Ethics Committee
Board of Directors
(14 members, of whom
4 are outside directors)
Board of Directors
(14 members, of whom
4 are outside directors)
Quality Audit
Internal Audit Quality Audit
Internal Audit
Quality Affairs Ofce
and Departments
Quality Affairs Ofce
and Departments CSR Promotion OfceCSR Promotion Ofce
Subsidiaries and AfliatesSubsidiaries and Afliates
DepartmentsDepartments
Executive Vice PresidentsExecutive Vice Presidents
MITSUBISHI MOTORS CORPORATION
Annual Report 2015
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