Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 40

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 3
Chunk 40
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 of the Company are managed under the direction of our Board of Directors. Each stockholder will be given specific
information on how he or she can direct communications to the officers and directors of the Company at our annual stockholders’
meetings. All communications from stockholders are relayed to the members of the Board of Directors.

Role
in Risk Oversight

Our
Board of Directors is primarily responsible for overseeing our risk management processes. The Board of Directors receives and reviews
periodic reports from management, legal counsel, and others, as considered appropriate, regarding our Company’s assessment of risks.
The Board of Directors focuses on the most significant risks facing our Company and our Company’s general risk management strategy,
and also ensures that risks undertaken by our Company are consistent with the Board’s appetite for risk. While the Board oversees
our Company’s risk management, management is responsible for day-to-day risk management processes. We believe this division of
responsibilities is the most effective approach for addressing the risks facing our Company and that our Board leadership structure supports
this approach.

100

Board
Leadership Structure and Role in Risk Oversight

The
Board of Directors intends to exercise its oversight in the following manner:

    ●
    appointing,
    retaining, and overseeing the work of the independent auditors, including resolving disagreements between the management and the
    independent auditors relating to financial reporting;

    ●
    approving
    all auditing and non-auditing services permitted to be performed by the independent auditors;

    ●
    reviewing
    annually the independence and quality control procedures of the independent auditors;

    ●
    reviewing
    and approving all proposed related party transactions;

    ●
    discussing
    the annual audited financial statements with the management; and

    ●
    meeting
    separately with the independent auditors to discuss critical accounting policies, management letters, recommendations on internal
    controls, the auditor’s engagement letter and independence letter and other material written communications between the independent
    auditors and the management.

Committees
of the Board of Directors

We
intend to establish the following committees:

Audit
Committee. The audit committee will consist of our independent directors and its duties will be to recommend to the Board
the engagement of independent auditors to audit our financial statements and to review our accounting and auditing principles. The audit
committee will review the scope, timing and fees for the annual audit and the results of audit examinations performed by the internal
auditors and independent public accountants, including their