Dai-ichi Life Holdings

Internal Audit

To ensure the soundness and appropriate business operations of the Group as a whole, the Company recognizes that it is important for the internal audit section of the Company to conduct internal audits and provide advice for improvement as necessary to ensure that all of the operations and activities of the Group are appropriate and effective. The measures and practices necessary for ensuring an effective internal audit have been put in place, including those for maintaining the independence of the internal audit section.

Policies and rules

The Company has stipulated the core philosophies and policies for internal audits in the Basic Internal Control Policy for the Dai-ichi Life Group and Basic Internal Audit Policy for the Dai-ichi Life Group (the "Internal Audit Policy"). The Company has also established Internal Audit Regulations for the Dai-ichi Life Group in accordance with the Internal Audit Policy to define the principles of internal audit and to effectively and efficiently implement all the activities relating to Group's internal audit, as well as Internal Audit Operational Regulations that sets implementation guidelines for internal audits.

Organizational structure

Dai-ichi Life Holdings has set up the Internal Audit Unit as an independent organization to ensure its effective checking function to other organizations. The Internal Audit Unit verifies and assesses the appropriateness and effectiveness of internal control framework and activities of the Group, identifies flaws, provides advice for improvement and reports to the Board of Directors, Executive Management Board, etc. on the results of internal audits.

Reporting to the Audit Committee

Dai-ichi Life Holdings has the Audit Committee in which external directors have a majority. The Internal Audit Unit conducts internal audits under audit policy, plans and perspectives of the Audit Committee, and reports to the Audit Committee on its internal audit plans and results.