Activities for Sustainable Management Corporate Governance JS Group Corporation Annual Report 2010 37 Standing auditors of the holding company concurrently serve as non-standing auditors of major  subsidiaries, allowing them to supervise the operational situations of those companies. In addi- tion, the operations of all the operating companies and consolidated subsidiaries are checked  periodically by visiting auditors, who ask for reports on their operations and perform reviews as  necessary. The standing auditors of operating companies and subsidiaries classed as large cor- porations under Japan’s Corporate Law implement reviews through visiting audits of all the divi- sions and departments within their company, including its subsidiaries. These audit activities are  checked at regular Group-wide auditor meetings. Group companies also share information and  have a common audit policy. JS Group Corporation has adopted an auditor system, with a Board of Corporate Auditors consist- ing of four auditors, including two outside auditors. The Board of Corporate Auditors is an indepen- dent organization, entrusted by shareholders with auditing the directors’ performance of duties. Specifically, auditors attend Management Meetings and Board of Directors meetings, analyze  important documents, audit company divisions and departments and operating companies,  perform audits of transactions conducted by several operating companies working together and  other affairs, and cooperate with the Audit Department. The Board of Corporate Auditors also  holds Group-wide auditor meetings 15 times a year. Ordinary meetings of the Board of Corporate Auditors take place on days when the Board of  Directors meets. The auditors draw up audit plans, share the results of audits they have per- formed, write summaries and issue audit reports. They additionally deliberate and make deci- sions on legal matters or any affairs deemed necessary by the auditors. The Board of Corporate Auditors, working through the Group-wide auditor meetings, formu- lates auditing plans, monitors progress and implements improvements to ensure uniform auditing  levels throughout the Group. The Board of Auditors’ staff are assigned to the Audit Department,  and endeavor to collaborate and share information with the Group-wide audit board. Once a year the Board of Corporate Auditors prepares a report on their operations audit and  presents it to the president and the Board of Directors. In addition, they meet with the represen- tative directors about three times each year to confirm the directors’ management policies and  exchange opinions on issues and risks facing the Company. Meetings between the Board of Auditors and independent auditors occur twice a year, and  corporate auditors also attend audit report presentations of major Group operating companies. The JS Group Corporation has concluded a contract with Deloitte Touche Tohmatsu LLC to  provide audits as prescribed by the Corporate Law and the Financial Instruments and Exchange  Law. Auditors from the JS Group Corporation and Deloitte Touche Tohmatsu meet to share   information on auditing policies and problems occurring during reporting periods. JS Group   Corporation auditors also attend the audit reporting meetings, which take place at large   companies every reporting period, and share their views on specific issues relating to the settle- ment of accounts. Three certified public accountants led auditing duties in the term under review: Kazuhiro  Sasai (with four consecutive years as an auditor of the Company), Yoshinori Hirano (also four  years), and Junichi Yamanobe (one year). Helping to carry out auditing duties were 6 certified  public accountants, 10 assistant accountants, and 1 other person. During the year under review, in addition to auditing duties the certified public accountants  prepared a comfort letter for a bond issue for the Company. Board of Corporate  Auditors Accounting Audits Audits by Standing  Auditors