The Company’s Internal Audit is affiliated with the Board of Directors. Its appointment and dismissal are approved by a majority of the Board of Directors present under the law; its Internal Audit is directly responsible to the Boards. Currently, there are one Audit Supervisor and one Audit Staff.
The appointment and dismissal of the Company’s Internal Audit Supervisor are approved by the Boards of Directors. The appointment, dismissal, evaluation, and remuneration of Internal Auditors are based on the “Management of the Appointment of Additional Personnel”, “Management of Performance Evaluation of Personnel”, “Personnel Resignation Management Regulations” and “Employee Promotion Procedure”. The evaluation and review of Internal Auditors are conducted once a year. The mentioned appointments, dismissal, evaluation, and remuneration are submitted to the Chairman of the Board of Directors for approval following the approval process.
In addition, the Company’s subsidiaries in Dongguan, Vietnam, and the Philippines have one to two Auditors to carry out annual audit plans.
Audits are conducted routinely following the annual audit plan, and project audits are conducted as necessary to identify possible deficiencies in internal controls, provide recommendations for improvement, and issue audit reports. We report regularly to the Board of Directors on the status of implementation, and assist the Board of Directors and management in achieving the objectives set by evaluating and improving the effectiveness of risk management, control and monitoring process.
In addition, the Audit Office also urges each unit to perform self-inspection and establish a company self-supervision mechanism. The evaluation results are used as the basis for recommending the company’s Board of Directors and General Manager to issue Internal Control Statement.