its founding a decade ago, VIS has implemented the principle
of Corporate Governance into its day to day management and
has enabled VIS to pursue the utmost benefits the shareholders.
In 2003, VIS recruited a group of distinguished professionals
from the industry, finance, and legal field to join its Board
Of Directors (BOD). Audit, Compensation, and Corporate Governance
& Nomination committees were established at the first
meeting of the new BOD.
At the second meeting of the BOD,
the Charters of three committees that empower the BOD functions
of supervision and Corporate Governance were approved. In
addition, VIS has established relevant by laws to implement
major principles of Corporate Governance, including protecting
shareholders' rights and interests, strengthening the powers
of the board of directors, fulfilling the function of supervisors,
and enhancing information transparency.
VIS has also established and effectively
implemented a comprehensive internal control system. BOD and
the management review the reports of the internal audit department
regularly to ensure operational efficiency, and the accuracy
of financial reporting, as well as compliance to all regulations.