Seres Group Co., Ltd. has officially released a comprehensive set of Rules of Procedure for its Audit Committee. The document aims to strengthen the Board’s decision-making function, oversee the company’s financial expenditure, and enhance the effectiveness of internal controls.

The Rules of Procedure emphasize that the Audit Committee is composed entirely of non-executive directors, with a majority being independent directors and at least one member possessing professional accounting expertise. The committee’s responsibilities include reviewing financial information and disclosures, supervising and evaluating internal and external audit work, and guiding the internal audit system’s execution.

According to the announcement, any significant adjustments resulting from audits, internal control deficiencies, or major issues identified during periodic reviews must be reported in a timely manner. The committee is also charged with ensuring effective coordination between internal and external auditors and verifying that management’s risk control measures are adequately implemented.

The document specifies that these Rules of Procedure come into effect on the date of the listing of the company’s H shares on the Hong Kong Stock Exchange. Previous versions of the procedure automatically lapse, and any conflicts with updated laws, regulations, or the company’s Articles of Association are overridden by those higher-level requirements.