Mitsui & Co. Ltd, Japan is listed on NASDAQ which is one of reputed Stock exchanges in America. In accordance with the listing agreement, Mitsui is required to comply with the Sarbanes Oxley Act. This act has very strict requirements in terms of the Internal Controls and the compliance is mandatory. To comply with requirements, Mitsui has a system of Internal Audit which carries out the following activities:

•  Review whether adequate policies and procedures exist to cover the material nature of transactions.

•  Review whether such policies and procedures have design effectiveness and operational effectiveness to adequately cover the risk associated with such transactions.

•  Suggest remedial measures to cover the deficiencies in the design and operational effectiveness.

•  Monitor and review the implementation of the remediation measures suggested above.

•  Prepare a comprehensive testing plan which will give them adequate comfort for the design and effectiveness of the controls.

•   Prepare a charter for the internal audit function.

•  Conduct an audit according to the plan and in accordance with the charter.

•   Report the findings of the audit to the Audit Committee or the Board of Directors.



Outsourcing of Services

Mitsui due to its vast experience accumulated in India on the above areas of specialisation is in a position to offer these services to companies who are already having operations in India or are in the process of establishing their operations in India. The services on offer are as follows :

•  Support for Start Up Ventures

• Bookkeeping & Accounting

• Treasury & Financial Management

• Tax Advisory & Compliances

• Risk Management

• Internal Control & Compliances