The 15^th session of FREP First Audit Committee was held at Quanzhou on April 9th.  Mr. Abdulaziz Al-Judaimi, chairman of the audit committee and committee members Mr. Chen Xiaobo, Mr. Lin Li and Mr. Paul A. Theys attended the meeting.

Ms. Liu Cuixia, FREP chief auditor reported the control points of high risks identified in stage 1 audit and special audit for ethylene debottleneck project completed in internal audit and Mr. Joe M Francis, general manager of the Finance Department reported the closing status of audit gaps and business supervision improvement plan on behalf of the management at the meeting. 

The committee members held the view that the internal audit has constantly developed risk-oriented management audit business in recent years and scored practical and effective achievements in assisting the management departments to identify weak points of supervision, improve the management level and disseminate the enterprise culture of joint venture, which have been recognized by business departments and FREP management and obtained satisfaction. The meeting hoped that the internal audit can provide more high value-added services in area of expertise by closely embracing FREP business objectives and looking into the future and also hoped that the internal audit can improve the professional level through enhancing internal auditors’ training, communication and professional accreditation and continue making contributions to creating FREP model enterprise image to external world.

The meeting expressed satisfaction to FREP overall supervision status and affirmed the management efforts in closing the audit supervision gaps and optimizing the business process. Expectations were raised at the meeting that the management should focus on improvement of systems and processes and organizing assessment of the effects of changes and pay close attention to the outcome of gaps closing.