Internal auditing

I. In accordance with Article 11 of the Regulations Governing Establishment of Internal Control Systems by Public Companies, promulgated by the Executive Yuan's Financial Supervisory Commission (FSC), the Company has established "an internal audit unit under the board of directors". This unit assists the board and supervisors "in inspecting and reviewing defects in the internal control systems as well as measuring operational effectiveness and efficiency, and shall make timely recommendations for improvements to ensure the sustained operating effectiveness of the systems and to provide a basis for review and correction".

II. The Company's auditing division appoints one chief internal auditor, and appoints, in accordance with actual business needs, an appropriate number of competent internal auditors. Based on risk assessment results, the division drafts annual auditing reports, which are proposed to the board for approval and then submitted to the FSC. The division appoints an appropriate number of auditors to implement the annual audit plan's points of action, including the seven main links in the internal control system; and, based on varying degrees of risk, the audit division implements different degrees of review. The review results are attached to the task draft, then compiled into an audit report that is submitted to the board of directors and supervisors for review. Any deficiency follow-up and improvements made are then written up as a follow-up report.

III. Other services performed by the audit division
  • 1. Maintaining internal control system efficiency.
  • 2. Amending and maintaining the internal auditing enforcement rules.
  • 3. Confirming the internal control system self-review and evaluation results.
  • 4. Handling customer complaints.
  • 5. Controlling handling of abnormalities, preventing their reoccurrence, and making improvements.
  • 6. Making improvements to and following up on internal audit deficiencies.
  • 7. Reviewing, evaluating, and managing goals for operational risks.

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