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Audit Committee

Objectives

The Audit Committee, a sub-committee under the Board of Directors (BoD), is entitled to monitor the company’s accounting and business activities. Kia established the Committee on March 28, 2000 as required under Article 415-2 and Article 542-11 of Commercial Act.

Composition

The Audit Committee is composed of four external directors who shall be appointed at a General Meeting of Shareholders among the candidates recommended by the BoD

  • Jae Yong Shin External Director
    First Appointment Date
    March 17, 2023
    Last Appointment Date
    March 17, 2023
    Term
    3 years
    Remarks
    Chairman
  • Wha Sun Jho External Director
    First Appointment Date
    March 22, 2021
    Last Appointment Date
    March 15, 2024
    Term
    3 years
    Remarks
    -
  • Chan hyuk Chyun External Director
    First Appointment Date
    March 17, 2023
    Last Appointment Date
    March 17, 2023
    Term
    3 years
    Remarks
    -

* Requirements under Commercial Act: The Audit Committee shall consist of at least three directors. Provided, the ratio of external directors shall exceed two thirds of the total number of members.

Makeup and Operation of Audit System

Year

Makeup and Operation of Audit System by Year
Category Sub-category 2021 2022 2023
External
auditor		 Non-auditing renumeration against renumeration to external auditors for auditing · Auditing : KRW 1,800 mill
· Non-auditing : none 		· Auditing : KRW 2,300 mill
· Non-auditing : 1,582mil 		· Auditing : KRW 2,490 mil
· Non-auditing : 1,197mil
Inspection on compliance control standards provided in business reports Compliance control inspection Self-compliance inspection and disclosure of business reports (Kor) Self-compliance inspection and disclosure of business reports (Kor) Self-compliance inspection and disclosure of business reports (Kor)

Expertise of Audit Committee

Year

Expertise of Audit Committee by Year
Content 2021 2022 2023
The number of Audit Committee members who meet the requirements of accounting and financial experts under the law. 2 person 1 person 1 person
Audit-related training by Audit Committee members or specialized auditor 1 time 1 time 0 times

Operation

Date

Operation by Date
Date Agenda Items /
Reported Matters		 Whether
approved		 Remarks
25-Jan-2024 Agenda Items
  1. Approval of external auditor advisory service
  2. Approval of FY2023 audit performance and FY2024 audit plan

Reported Matters
  1. Actual state of internal accounting management system
  2. Business results and activities of FY2023
 Approved -
16-Feb-2024 Agenda Items
  1. Evaluation of Actual state of internal accounting management system

Reported Matters
  1. The 80th (FY2023) audit results
 Approved -
26-Apr-2024 Agenda Items
  1. Approval of external auditor advisory service

Reported Matters
  1. Business results and activities of FY2024 1st Quarter
  2. FY2024 external audit plan
 Approved -
27-Jan-2023 Agenda Items
  1. Approval of external auditor advisory service
  2. Approval of FY2022 audit performance and FY2023 audit plan

Reported Matters
  1. Actual state of internal accounting management system
  2. Business results and activities of FY2022
 Approved -
15-Feb-2023 Agenda Items
  1. Evaluation of Actual state of internal accounting management system

Reported Matters
  1. The 78th (FY2021) audit results
 Approved -
17-Mar-2023 Agenda Items
  1. Appointment of chairman of audit committee
 Approved -
25-Apr-2023 Agenda Items
  1. Approval of external auditor advisory service

Reported Matters
  1. Business results and activities of FY2023 1st Quarter
  2. FY2023 external audit plan
 Approved -
26-May-2023 Agenda Items
  1. Approval of external auditor advisory service
 Approved -
27-Jul-2023 Agenda Items
  1. Approval of external auditor advisory service

Reported Matters
  1. Communication with the governing body of accounting audit
  2. Business results and activities of FY2023 1st Half
 Approved -
27-Oct-2023 Agenda Items
  1. Approval of external auditor advisory service

Reported Matters
  1. Business results and activities of FY2023 3rd Quarter
 Approved -
26-Jan-2022 Reported Matters
  1. Actual state of internal accounting management system
  2. Business results and activities of FY2021
 - -
25-Fed-2022 Agenda Items
  1. Evaluation of Actual state of internal accounting management system
  2. Revision of internal accounting management regulations
  3. Appointment of Chairman of Audit Committee

Reported Matters
  1. The 78th (FY2021) audit results
 Approved -
25-Apr-2022 Reported Matters
  1. Business results and activities of FY2022 1st Quarter
  2. FY2022 audit plan
 - -
22-Jul-2022 Agenda Items
  1. Approval of external auditor advisory service

Reported Matters
  1. Communication with the governing body of accounting audit
  2. Business results and activities of FY2022 1st Half
 Approved -
24-Oct-2022 Agenda Items
  1. Approval of external auditor advisory service

Reported Matters
  1. Business results and activities of FY2022 3rd Quarter
 Approved -
27-Jan-2021 Reported Matters
  1. Actual state of internal accounting management system
  2. Business results and activities of FY2020
 - -
19-Feb-2021 Agenda Items
  1. Evaluation of Actual state of internal accounting management system

Reported Matters
  1. The 77th (FY2020) audit results
 Approved -
22-Apr-2021 Reported Matters
  1. Business results and activities of FY2021 1st Quarter
  2. FY2021 audit plan
 - -
22-Jul-2021 Reported Matters
  1. Business results and activities of FY2021 1st Half
 - -
27-Oct-2021 Reported Matters
  1. Business results and activities of FY2021 3rd Quarter
 - -
09-Dec-2021 Agenda Items
  1. Approval of contract with designated external auditor

Reported Matters
  1. Separate financial statement revision report
  2. Communication with the governing body of accounting audit
 Approved -
22-Jan-2020 Reported Matters
  1. Actual state of internal accounting management system
  2. Business results and activities of FY2019
 - -
19-Feb-2020 Agenda Items
  1. Evaluation of Actual state of internal accounting management system

Reported Matters
  1. The 76th (FY2019) audit results
 Approved -
23-Apr-2020 Reported Matters
  1. Business results and activities of FY2020 1st Quarter
  2. FY2020 audit plan
 - -
23-Jul-2020 Reported Matters
  1. Business results and activities of FY2020 1st Half
 - -
26-Oct-2020 Agenda Items
  1. Enactment of regulations for appointment of external auditors

Reported Matters
  1. Business results and activities of FY2020 3rd Quarter
 Approved -
30-Nov-2020 Agenda Items
  1. Appointment of a new external auditor

Reported Matters
  1. Communication with the governing body of accounting audit
 Approved -
Activities of the Audit Committee in 2024
Date Agenda Items / Reported Matters Whether
approved		 Remarks
25-Jan-2024 Agenda Items
  1. Approval of external auditor advisory service
  2. Approval of FY2023 audit performance and FY2024 audit plan

Reported Matters
  1. Actual state of internal accounting management system
  2. Business results and activities of FY2023
 Approved -
16-Feb-2024 Agenda Items
  1. Evaluation of Actual state of internal accounting management system

Reported Matters
  1. The 80th (FY2023) audit results
 Approved -
26-Apr-2024 Agenda Items
  1. Approval of external auditor advisory service

Reported Matters
  1. Business results and activities of FY2024 1st Quarter
  2. FY2024 external audit plan
 Approved -
Activities of the Audit Committee in 2023
Date Agenda Items / Reported Matters Whether
approved		 Remarks
27-Jan-2023 Agenda Items
  1. Approval of external auditor advisory service
  2. Approval of FY2022 audit performance and FY2023 audit plan

Reported Matters
  1. Actual state of internal accounting management system
  2. Business results and activities of FY2022
 Approved -
15-Feb-2023 Agenda Items
  1. Evaluation of Actual state of internal accounting management system

Reported Matters
  1. The 79th (FY2022) audit results
 Approved -
17-Mar-2023 Agenda Items
  1. Appointment of chairman of audit committee
 Approved -
25-Apr-2023 Agenda Items
  1. Approval of external auditor advisory service

Reported Matters
  1. Business results and activities of FY2023 1st Quarter
  2. FY2023 external audit plan
 Approved -
26-May-2023 Agenda Items
  1. Approval of external auditor advisory service
 Approved -
27-Jul-2023 Agenda Items
  1. Approval of external auditor advisory service

Reported Matters
  1. Communication with the governing body of accounting audit
  2. Business results and activities of FY2023 1st Half
 Approved -
27-Oct-2023 Agenda Items
  1. Approval of external auditor advisory service

Reported Matters
  1. Business results and activities of FY2023 3rd Quarter
 Approved -
Activities of the Audit Committee in 2022
Date Agenda Items / Reported Matters Whether
approved		 Remarks
26-Jan-2022 Reported Matters
  1. Actual state of internal accounting management system
  2. Business results and activities of FY2021
 - -
25-Fed-2022 Agenda Items
  1. Evaluation of Actual state of internal accounting management system
  2. Revision of internal accounting management regulations
  3. Appointment of Chairman of Audit Committee

Reported Matters
  1. The 78th (FY2021) audit results
 Approved -
25-Apr-2022 Reported Matters
  1. Business results and activities of FY2022 1st Quarter
  2. FY2022 audit plan
 - -
22-Jul-2022 Agenda Items
  1. Approval of external auditor advisory service

Reported Matters
  1. Communication with the governing body of accounting audit
  2. Business results and activities of FY2022 1st Half
 Approved -
24-Oct-2022 Agenda Items
  1. Approval of external auditor advisory service

Reported Matters
  1. Business results and activities of FY2022 3rd Quarter
 Approved -
Activities of the Audit Committee in 2021
Date Agenda Items / Reported Matters Whether
approved		 Remarks
27-Jan-2021 Reported Matters
  1. Actual state of internal accounting management system
  2. Business results and activities of FY2020
 - -
19-Feb-2021 Agenda Items
  1. Evaluation of Actual state of internal accounting management system

Reported Matters
  1. The 77th (FY2020) audit results
 Approved -
22-Apr-2021 Reported Matters
  1. Business results and activities of FY2021 1st Quarter
  2. FY2021 audit plan
 - -
22-Jul-2021 Reported Matters
  1. Business results and activities of FY2021 1st Half
 - -
27-Oct-2021 Reported Matters
  1. Business results and activities of FY2021 3rd Quarter
 - -
09-Dec-2021 Agenda Items
  1. Approval of contract with designated external auditor

Reported Matters
  1. Separate financial statement revision report
  2. Communication with the governing body of accounting audit
 Approved -
Activities of the Audit Committee in 2020
Date Agenda Items / Reported Matters Whether
approved		 Remarks
22-Jan-2020 Reported Matters
  1. Actual state of internal accounting management system
  2. Business results and activities of FY2019
 - -
19-Feb-2020 Agenda Items
  1. Evaluation of Actual state of internal accounting management system

Reported Matters
  1. The 76th (FY2019) audit results
 Approved -
23-Apr-2020 Reported Matters
  1. Business results and activities of FY2020 1st Quarter
  2. FY2020 audit plan
 - -
23-Jul-2020 Reported Matters
  1. Business results and activities of FY2020 1st Half
 - -
26-Oct-2020 Agenda Items
  1. Enactment of regulations for appointment of external auditors

Reported Matters
  1. Business results and activities of FY2020 3rd Quarter
 Approved -
30-Nov-2020 Agenda Items
  1. Appointment of a new external auditor

Reported Matters
  1. Communication with the governing body of accounting audit
 Approved -