Auditing Procedure

Financial Accounts, Financial Statements, Financial Reports and Auditing
Auditing is performed in compliance with Myanmar Company laws, financial institution laws, and constitution. The Internal Audit Department is formed and is performing audit weekly and monthly for the main office and branches. Moreover, banking supervision department is formed which regularly investigates the branches in order to supervise the safety and services.

Appoint of External Auditor
The board of director performs the preliminary screening from a selected group of external auditors that are certified from Myanmar Auditing Council as experienced and capable. Then the selected external auditor is submitted to the Central Bank of Myanmar for approval. The approved external auditor is confirmed at annual general meeting of shareholders. The process is compliant with Myanmar Company Law, Financial Institution Law and the Constitution.

Financial Report and Directors’ Report
Financial report and directors’ report prepared by the external auditor are compiled yearly and delivered before the annual shareholders’ general meeting, and acquire approval for the reports.