Internal Audit Internal Audit

The structure and its members

  • There are two full time employees dedicated to Internal Audit.

Duties of the Auditing Office

  1. Inspect the reliability and integrity of financial and operating information, as well as the methods to discern, measure, classify, and report such information.
  2. Inspect the current system to ensure the accordance with major policies, plans, procedures, and regulations.
  3. Inspect the methods to protect assets and examine whether the assets exist if necessary.
  4. Evaluate whether the resource use is economic and effective.
  5. Inspect operating or project plans to ensure the outcome consists with the predetermined purpose and goal and the project is carried out as scheduled.

Annual Audit Plan

According to Regulations Governing Establishment of Internal Control Systems by Public Companies, the company establishes an Audit Office and develops annual audit plans as follows:

  1. Before the end of every fiscal year, the company declares the audit plan for the next year.
  2. Before the end of every January, the company declares the internal audit staff name list.
  3. Within two months after conclusion of every fiscal year, the company declares how the audit plan of the previous year is implemented.
  4. Within three months after conclusion of every fiscal year, the company issues the declaration letter for the internal control system of the previous year.
  5. Within five months after conclusion of every fiscal year, the company declares defects of internal control systems identified through internal audit, as well as abnormality improvement.

 

According to Article 13 of Regulations Governing Establishment of Internal Control Systems by Public Companies, we carry out the following audit cycles:

  1. Sales and collection cycle
  2. Procurement and payment cycle
  3. Production, inventory, and personnel services cycle
  4. Human resources management and payroll cycle
  5. Financing cycle
  6. Property, plant, and equipment cycle
  7. Investing cycle
  8. Research and development cycle
  9. Computer and information-based tasks
  10. Self-assessment of internal control
  11. Management cycle