The Internal Audit is an independent unit under the Board of Directors; Job function includes monthly performance report to the Audit Committee, as well as a summarized report in the Board of Directors routing meeting.
Organizes and develops internal audit systems based on the internal control system in various departments, reviews the internal control for various working procedures, assists the Board of Directors and senior management to check and review weakness in internal control system and evaluate the results and efficiency for operations, providing timely recommendations for improvement to ensure the sustainably effective implementation for internal control system, in which internal control system can be accordingly reviewed and amended.
The annual audit plan is to be organized based on the “Regulations Governing Establishment of Internal Control Systems by Public Companies” and risk assessment, approved by the Board of Directors. Audit is primarily executed based on audit plan of the year, for audit result, in addition to issue the audit working papers and audit reports, comprehensive communication with supervisor of the audited department on audit result is necessary to finalize relative projects and date for improvement. Moreover, actions for improvement are to be followed by audit staff for the effective implementation of internal control. Internal audit regularly/appropriately provides reports on implementation status and result to the Board of Directors and Audit Committee for the fulfillment of corporate governance. Moreover, internal audit reviews the self-check results implemented by various departments to ensure quality of the implementation, submitting the self-check results to Chairman, the Board of Directors and Audit Committee.
Internal audit supervisor submits quarterly reports to independent Directors on the implementation progress of internal audit; in case of any major material violation or any likelihood of material damage to the company, relevant meetings may be called at any time.
Date | Communication Issues | Recommendation of Independent Directors and Result |
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2021/07/26 | March to May, 2021 – Auditing Report | Independent Directors have no opposition about the Auditing Report |
2021/04/23 | Dec. 2020-Feburary.2021 – Auditing Report | Independent Directors quizzed the handling approaches of major issues and proposed performing measures. |
2021/02/08 | September to November, 2020 – Auditing Report |
The Accountant submits to independent Directors auditing issues such as results of financial reports, recently amended securities and taxation regulations, as well as the forthcoming applicable International Financial Reporting Standards at least twice a year, also irregularly reaching for communication with independent Directors if necessary.
Date | Communication Issues | Recommendation of Independent Directors and Result |
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2021/07/26 | 1. Accountant expressed the 2021 First Half-Year Financial Statement 2. Carry on discussion on the recently amended Securities and Exchange Act. | Independent Directors have no opposition about the Financial Statement expressed by accountant. Audit Committee approves the 2021 First Half-Year Financial Statement and proposes to the Board of Director. |
2021/02/08 | 1. Accountant expressed the 2020 Financial Statement 2. Carry on discussion on the recently amended Securities and Exchange Act, as well as the updated taxation affairs. 3. Introduction to the amended 8th Corporate Governmence Evaluation 4. Carry on communication and discussion on issues proposed by the participants. | Independent Directors shall challenge impact range regarding to regulations change. Accountant shall feedback against the issues which independent directors concerned. |