The Audit Committee is responsible for assisting the board of directors in performing supervisory duties and exercising its functions and powers as required by the Securities Exchange Law, the Company Law and other laws. It also regularly communicates with the Company's accountants and reviews the appointment, independence and performance of the accountants. At the same time, the Company's internal auditors will regularly submit audit summary reports to the Audit Committee based on the annual audit plan. The Audit Committee also periodically reviews the Company's internal control system, internal auditors and their work. The main powers of the Committee are as follows:
- Supervising and auditing the fair expression of the Company's financial statements
- Monitoring and evaluating the effective implementation of the internal control system
- Supervising the Company's compliance with laws and regulations
- Reviewing the transaction of the Company's acquisition or disposal of assets, the lending of significant funds and endorsement or guarantee for others, and matters involving the director's own interests
- Raising, issuing or private equity securities
- Appointment, dismissal or remuneration of the accountants
The Committee consists of all independent directors (including at least 1 financial expert). The five independent directors all meet the qualifications, such as professionalism, work experience, independence, and the number of serving as independent directors. They also conduct internal performance evaluations of the Audit Committee on a regular basis every year.
The Audit Committee is convened at least once a quarter. Please refer to the Annual Report of the Shareholders' Meeting of the Company for the meeting of the Committee and the attendance rate of each member.