The primary responsibility of the audit committee is to assist the board of directors in fulfilling its supervisory duties and ensuring the effective implementation of the powers conferred on the company by the Company Law, Securities Trading Act, and other relevant laws and regulations. The audit committee also helps the board of directors improve the quality of the company's accounting, financial reporting, internal control operations, and other related matters.
Official powers of the audit committee:
1.Adoption or amendment of an internal control system pursuant to Article 14-1 of Securities and Exchange Act.
2. Assessment of the effectiveness of the internal control system.
3. Adoption or amendment, pursuant to Article 36-1 of Securities and Exchange Act, 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.
4.A matter bearing on the personal interest of a director.
5.A material asset or derivatives transaction.
6.A material monetary loan, endorsement, or provision of guarantee.
7.The offering, issuance, or private placement of any equity-type securities.
8.The hiring or dismissal of a certified public accountant, or the compensation given thereto.
9.The appointment or discharge of a financial, accounting, or internal auditing officer.
10.Annual and semi-annual financial reports. The major financial statements shall also be signed or sealed on each page by the issuer's chairperson, managerial officer, and principal accounting officer.
11.Any other material matter so required by the company or the Competent Authority.
The audit committee is composed of all independent directors (including at least one financial expert) who meet the statutory requirements for professional qualifications, work experience, independence, and the number of independent directorships held. The committee conducts an internal performance evaluation of the audit committee on a regular basis every year.
Official powers of the audit committee:
1.Adoption or amendment of an internal control system pursuant to Article 14-1 of Securities and Exchange Act.
2. Assessment of the effectiveness of the internal control system.
3. Adoption or amendment, pursuant to Article 36-1 of Securities and Exchange Act, 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.
4.A matter bearing on the personal interest of a director.
5.A material asset or derivatives transaction.
6.A material monetary loan, endorsement, or provision of guarantee.
7.The offering, issuance, or private placement of any equity-type securities.
8.The hiring or dismissal of a certified public accountant, or the compensation given thereto.
9.The appointment or discharge of a financial, accounting, or internal auditing officer.
10.Annual and semi-annual financial reports. The major financial statements shall also be signed or sealed on each page by the issuer's chairperson, managerial officer, and principal accounting officer.
11.Any other material matter so required by the company or the Competent Authority.
The audit committee is composed of all independent directors (including at least one financial expert) who meet the statutory requirements for professional qualifications, work experience, independence, and the number of independent directorships held. The committee conducts an internal performance evaluation of the audit committee on a regular basis every year.