Internal Audit Structure

Basic Approach

Internal audit refers to the series of activities, ranging from the objective and comprehensive evaluation of the effectiveness and appropriateness of each process relating to governance, risk management, and control, to providing recommendations and corrective guidance, etc., toward the resolution of problems from an independent standpoint of the departments and business processes that are subject to the audit, based on a plan approved by the board of directors of each of our group companies.

Through these series of activities, internal audits assist the board of directors of each of our group companies to fulfill their managerial duties efficiently and effectively. In line with the Basic Policy for Internal Audit established by Mizuho Financial Group, our principal banking subsidiaries and other core group companies conduct internal audits, which include the internal auditing of their respective subsidiaries.

In addition, with respect to the management of risks applicable across the Mizuho group, we coordinate internal audits throughout the group to assess the risk management status of the group as a whole.

Internal Audit Management Structure

Mizuho Financial Group (Holding Company)

Our Internal Audit Group is independent from other departments and business processes at Mizuho Financial Group.

The Internal Audit Group conducts internal audits of Mizuho Financial Group, and centrally monitors and manages the status of internal audits at our core group companies, by verifying the internal audits and internal control structure at each company based on reports submitted by those companies.

The progress of individual audits and plans is reported to the Audit Committee, and our Internal Audit Group responds to requests for inspections and receives specific instructions from the Audit Committee.

In addition, we have also established an Internal Audit Committee that discusses and makes decisions on all important matters regarding internal audits. Its resolutions and important matters for reporting are submitted to the Audit Committee and our Board of Directors.

Mizuho Bank and Mizuho Trust & Banking

The Internal Audit Groups at both Mizuho Bank and Mizuho Trust & Banking are independent from their respective other departments and business processes.

The progress of individual audits and plans is reported to their respective Audit & Supervisory Committees, and their respective Internal Audit Groups respond to requests for inspections and receive specific instructions from their respective Audit & Supervisory Committees.

In addition, they have also both established Internal Audit Committees that discuss and make decisions on all important matters regarding their respective internal audits.

Both banks have established internal audit departments to conduct internal audits at their respective domestic and overseas business offices, head office departments, and group companies. Specifically, the internal audit departments assess the suitability and effectiveness of business activities associated with compliance and risk management.

Other Core Group Companies

Other core group companies have also established effective and efficient internal audit structures adapted to the characteristics of their respective businesses.

Internal audit management structure

Image: Internal audit management structure

(As of June 30, 2023)

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