Beijing 51WORLD Digital Twin Technology Co., Ltd. (51WORLD) has released official documentation outlining the organizational structure and responsibilities of its newly established Audit Committee under the Board of Directors. The committee’s formation is intended to strengthen the company’s internal and external audit oversight, align its governance with applicable laws and regulations, and reinforce its overall corporate governance framework.

According to the document, the Audit Committee consists entirely of non-executive directors, with the majority being independent. At least one member is required to be a financial and accounting professional in compliance with Rule 3.10(2) of the Hong Kong Listing Rules. The committee’s responsibilities include maintaining communication with external auditors, evaluating the effectiveness and integrity of financial control, supervising internal audits, and overseeing risk management measures.

The documentation also addresses the operational procedures of the Audit Committee, including meeting notice requirements, voting procedures, and quorum guidelines. Members are obliged to keep meeting details confidential, and resolutions passed must be submitted to the Board of Directors. The Terms of Reference become effective upon approval by the Board and will be adjusted if future regulatory changes require updates.