Our company has established an Auditing Department which operates under the Board of Directors. There is a Chief Auditor who manages internal audit operations and supervises the Auditing Department in conducting internal audits as well as two additional auditors in the Department. The Chief Auditor is appointed by the Board of Directors. The Department is responsible for:(1)Implementing regular audits for the headquarters and projects.
(2)Investigating and evaluating the completeness, rationality and effectiveness of the internal monitoring system and various management measures.
(3)Investigating and evaluating the efficiency of various departments in carrying out work, projects and measures. These include appropriateness of manpower deployment, adequate recording of all transaction cycles, and ability to prevent waste, embezzlement and inefficient use of resources such as cash, inventories, and other assets. The Department also compares, evaluates and reviews operational performance and adopts effective countermeasures to increase operational efficiency.
Job Scope of the Chief Auditor+ Supervises corporate operations and management systems
+ Devises audit plans for each internal control, audit and management systems.
+ Assists the Board of Directors and Board of Supervisors in monitoring the company.
+ Devises guidance plans for regular and aperiodic production, sales, human resource, development and finance audits both locally and internationally.
+ Conducts audits in accordance with orders from the executives and the Board.
+ Reports audit updates to the Boards regularly and presents at Board meetings.
+ Supervises, reviews, manages, and trains the company’s auditors
+ Prepares audit and management reports.
Job Scope of the Chief Auditor+ Implement audits for the nine business cycles of the internal control system in accordance with the annual audit plan.
+ Assists the promotion, establishment, rectification and implementation of internal control and management systems in the company.
+ Proclaims relevant audit information in accordance with the requirements of the Financial Supervisory Commission.
+ Responsible for collection, investigation, organization, analysis and interpretation of audit data, and devises reports and suggestions.
+ Conducts audits on operation of existing systems, regulations, plans, and policies in accordance with orders from executives.
+ Assists supervisors in conducting regular and aperiodic production, sales, human resource, development, and finance audits locally and internationally.
+ Assists supervisors in conducting audits in accordance with the orders of the executives and the Boards.
Annual audit plan(1) Our company has established an Auditing Department which operates directly under the Board in accordance with Article 11 of the “Criteria for Establishment of Internal Control Systems in Listed Companies”. The Department is currently led by Chief Auditor Hong-Long Hsieh.
(2) The Auditing Department formulates annual audit plan and implements the following audit cycles in accordance with the “Criteria for Establishment of Internal Control Systems in Listed Companies” to evaluate the completeness, rationality and effectiveness of the company’s internal control system.
+ Sales and receivables cycle
+ Production cycle
+ Procurement and payment cycle
+ Human resource and payroll cycle
+ Fixed asset cycle
+ Financing cycle
+ Investment cycle
+ Digitalized information system management
+ R&D cycle
- In addition, in accordance with the regulations of the Securities and Futures Bureau, the Department conducts various audits periodically. These includes monthly audit for stock operations and transactions of financial derivatives, seasonally audits for endorsements and monitor of capital leases to others and subsidiaries. In addition, self-assessments of the internal control system, stakeholder transactions, management of the Board meeting, management of the Remuneration/Compensation Committee, compliance with International Financial Reporting Standards, and evaluation of accounting judgement procedure, measures and work flow for estimates are conducted annually to boost the company’s operational performance.
Procedure for self-assessment of the internal control systemSelf-assessment of the internal control system is first performed by respective departments in accordance with internal control measures before the result are inspected and evaluated by the Auditing Department and submitted to the Board for review. The audit reports and following-ups are submitted to the company supervisor before the end of the next month after the audit in accordance with the “Criteria for Establishment of Internal Control Systems in Listed Companies”. The Auditing Department then issues a Statement of Internal Control and submits the Statement with audit reports to the Board for review. Upon approval, the reports are submitted for proclamation.
The Auditing Department of our company shall complete the following online proclamations within the deadline set forth by the Financial Supervisory Commission.+ Annual Audit Plan for next financial year (before the end of December)
+ Basic information of the Chief Auditor and auditors for the current financial year (before the end of January)
+ Audit Plan Execution for the previous financial year (before the end of February)
+ Statement on the Internal Control System for the previous financial year (before the end of March)
+ Report of Internal Control Deficiencies and Abnormalities Improvement for the previous financial year (before the end of May)
IR office: Ms. Emily Lu (ext.5107)
IR office: Ms. Fiona Chiang (ext.5120)firstname.lastname@example.org
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