During the reporting period, the Company organized and completed the analysis on the Company’s internal control, which included procuring relevant departments to make adjustments in respect of the deficiencies in internal control found in the analysis within a time limit, following-up the adjustments effectively and improving the Company’s internal control system. In order to ensure the internal control operate effectively, the Company amended and improved the “Internal Control Manual of China Suntien Green Energy Corporation Limited”(《新天綠色能源股份有限公司內部控制手冊》). To effectively implement the internal control standards of the Group, we will further strengthen and standardize the internal control of the Group and improve the overall management and risk level and risk prevention capability of the Group. In 2016, the internal control system of the Company was promoted to the relevant companies in Northwest China to establish their own “internal control management manual”, which strengthened the internal control system of the Group and promoted the internal control and management level.
The Board is responsible for the risk management and internal control systems of the Company and reviewing their effectiveness. The risk management and internal control system of the Company are designed to manage rather than eliminate the risk of failures to achieve business objectives, and can only provide reasonable and not absolute assurance against material misstatement or loss. The Board reviews the risk management and internal controls annually. The statement of the Board has included the examination and review of the Company’s risk management and internal control systems as at 31 December 2016. The Board has confirmed that it has reviewed the effectiveness of the risk management and internal control systems and the Board considers that the risk management and internal control systems are effective and sufficient and they can effectively prevent against the existing risks in the Company’s operation.
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