The Audit Committee aims to assist the Board of Directors in supervising the quality and integrity of the Company while implementing accounting, auditing, financial reporting procedures and financial control. The Audit Committee is composed of all independent directors, and the members of which shall not be less than three, one of whom shall be the convener, and at least one shall have accounting or financial expertise. The Committee meets at least once a quarter and may hold meetings as needed.
Functional Committee
Major tasks of the year
The main objective of the Audit Committee is to supervise the following matters:
- Appropriate expression of the Company’s financial statements.
- The selection (dismissal) of Certified Public Accountants as well as their independence and performance.
- Effective implementation of the Company’s internal control.
- The Company complies with relevant laws and regulations.
- The management and control of the Company’s existing or potential risks.
The main powers of the Audit Committee are as follows:
- Adoption or amendment of an internal control system pursuant to Article 14-1.
- Assessment of the effectiveness of the internal control system.
- Adoption or amendment, pursuant to Article 36-1, of handling procedures for financial or operational actions of material significance, such as acquisition or disposal of assets, derivatives trading, extension of monetary loans to others, or endorsements or guarantees for others.
- Review matter bearing on the personal interest of a director.
- Review material asset or derivatives transaction.
- Review material monetary loan, endorsement, or provision of guarantee.
- Review the offering, issuance, or private placement of any equity-type securities.
- Review the hiring or dismissal of an attesting CPA, or the compensation given thereto.
- Review the appointment or discharge of a financial, accounting, or internal auditing officer.
- Annual financial reports and second quarter financial reports that must be audited and attested by a CPA, which are signed or sealed by the chairman, managers, and accounting supervisor.
- Review any other material matter required by the Company or the competent authority.
Committee members’ attendance
The term of the current Committee is from 2020/7/23 to 2023/7/22. So far (2021/10/31), 7 meeting have been held. The attendance of the committee members is as follows:
Name | Actual attendance | Number of proxy attendance | Actual attendance rate(%) |
---|---|---|---|
Chiung-Yu Huang | 7 | 0 | 100 |
Ding-Yuan Chen | 6 | 0 | 86 |
Hua-Nung Lin | 2 | 0 | 100 |
Note: Mr. Hua-Nung Lin took office after the by-election held at the extraordinary general meeting on 2021/03/30.
Meeting date | Name of meeting | Resolutions |
2021.02.02 | 5th session |
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2021.03.12 | 6th session |
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2021.03.30 | 7th session |
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2021.05.11 | 8th session |
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2021.07.02 | 9th session |
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2021.08.10 | 10th session |
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Meeting date | Name of meeting | Resolutions |
2020.08.04 | 1st session |
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2020.09.07 | 2nd session |
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2020.12.28 | 3rd session |
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2021.02.02 | 4th session |
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