Vision - Alibaba

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78 Annual Report 2007 Our management is responsible for designing and implementing the internal control system of Alibaba.com to achieve the aforesaid objectives. Under its terms of reference, our audit committee performs review of our internal control system covering fi nancial, operational and compliance controls and risk management procedures. Regular communications are maintained among our board, audit committee and management to address various areas of our internal control system. Reporting to the audit committee, our internal audit and compliance department (“IAC”) provides independent assessment as to the existence and effectiveness of our internal control system, mainly through conducting annual internal audit and various compliance projects on Alibaba.com. Results of such assessment are reported to our audit committee and our senior management concerned. Our IAC also follows up on management actions to ensure that all issues are being addressed and resolved as appropriate. In addition, it maintains regular communications with our external auditors so that both parties are aware of the signifi cant factors that may affect their respective scopes of work. Reports from our external auditors on internal controls and relevant fi nancial reporting matters are presented to our audit committee, our IAC and, as appropriate, to our relevant senior management teams. These reports are reviewed and appropriate actions are taken. During the year, the management has reviewed Alibaba.com’s internal control system, and have worked with IAC closely in order to get continuing improvement of our internal control. Our management has also reviewed and performed risk assessment on selected aspects of Alibaba.com’s activities. Our IAC, using a risk based audit approach, performed an annual assessment on various material control cycles, including sales order to cash receipt, procurement to payment, general accounting, human resource and payroll, treasury, taxation, information system as well as our entity level controls. The IAC works results were communicated to our audit committee, which in turn conducted its review and reported to our board for further review. In respect of the year, our directors, through our audit committee as well as by themselves, have reviewed and are generally satisfi ed with the effectiveness of Alibaba.com’s internal control systems including all material fi nancial, operational and compliance controls and risk management functions. SHAREHOLDERS’ RIGHTS Our board endeavors to uphold transparent communications with our shareholders for them to make informed decisions about their investments and the exercise of their rights as shareholders, including voting their shares. We establish and maintain different communication channels with our shareholders through the publication of annual and interim reports, press announcements as well as news releases to provide extensive information on Alibaba.com’s activities, business strategies and developments. This information is also available on our website: www.alibaba.com. Our board welcomes the views of shareholders on matters affecting Alibaba.com and encourages them to attend shareholders’ meetings to communicate directly any concerns they might have to our directors. We regard our shareholders’ meetings as valuable forum for shareholders to raise comments and exchange views with our board. All directors and senior management will make an effort to be present at the shareholders’ meetings to address queries from shareholders. To enable the meeting to be conducted in a transparent manner, the resolutions to be put forward at our annual general meeting will be conducted by way of poll. Poll results will be published and posted on the Stock Exchange’s website as well as our website.
Corporate Governance Report INVESTOR RELATIONS Our senior management is dedicated to maintaining an open dialogue with investment community to ensure thorough understanding of our Company and our business strategies. We proactively reach out to investors, shareholders, analysts, and media through road shows, conference calls, investor conferences, media briefi ngs and news releases. We also welcome and respond to requests for information and queries from the general public. Corporate governance is a continuing process which calls for collective efforts and commitment from both our board and our management. Although we are relatively new in the public company arena, we are determined to managing our Company in a manner attuned to the times, consistent with all relevant rules and regulations and in accordance with Alibaba.com’s mission, vision and values. Hong Kong, March 18, 2008 Wong Lai Kin, Elsa Company Secretary 79
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Financial and Operational Highlight
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orld’s leading nline marketplace
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CORPORATE HEADQUARTERS 6th Floor, C
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November Launched TradeManager inst
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Awards and Recognitions Awards and
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Global E-Commerce Leader Alibaba.co
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Along with other members of Alibaba
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2007 Financial highlights We achiev
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CEO’s Statement This mission star
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Global Trade Starts Here Alibaba.co
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BUSINESS ENVIRONMENT Buoyant China
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International marketplace operating
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localize user services and facilita
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selling branded advertisements main
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