Internal audit team covers subsidiaries into internal control self-assessment. The manager is assigned by the Board of Directors while the quality and numbers of members are in conformity with terms and rules set by relative authority, compliance with these policies will be regularly checked and reported to the Board.
Duties and rights:
I. To formulate and review the internal control system.
II. To amend and audit the internal control system.
III. To evaluate, plan for and audit oversea subsidiaries’ system.
The operation of internal audit
The Audit Team is effect by Board of Directors and responsible for reexaminations of errors of internal control system and evaluation on operational efficiency and effect. Whenever a deficiency is found, the Auditing Office shall identify the reasons and correct them. The Audit Team requests each and every department to understand whether employees operate in conformity with the law.
Audit Team current has 1 manager and 1 auditing member.
Risk Management Policy
The Company focuses on short-middle term strategy. Though risks are inevitable, management shall evaluates beforehand to limit and avoid operating risks by which the Board Directors and relative departments reviewed and conducted.
Structure of Risk Management
Risks are managed accordingly to the nature of business: market risk, financial risk, liquidity risk, credit risk, and legal risk, strategic and operational risk.
General Manager Office
Responsible for planning business strategies and monitoring the operational results and efficiencies to lower strategic risks.
Administrative Management Division
Set up the risk management for human sources in accordance with the relevant laws; also responsible for legal risks management through complying with governmental laws on supervisory measures and handling underlying contracts and litigations to lower legal risks.
Finance & Accounting Division
Responsible for asset risk management, complying with relevant laws and regulations to ensure the sustainability of the Company and safeguarding of assets. The department is also responsible for evaluating middle- to long-term investment gains, conducting and controlling financial operations, and establishing hedging mechanisms. We shall lower financial risks through compliance with laws and regulations as well as ensuring reliable financial reporting.
Responsible for building and maintaining ERP systems and network, ensuring network security through taking precaution measures to lower information and technology risks.
Responsible for avoiding any delays in production and delivery schedule and complying with ISO (International Organization for Standardization) standards to execute daily management.
Quality Assurance Department
Responsible for implementing ISO system , IQC management of supplier, IQC and IPQC management of product IPQC to lower risks related to quality and customer complaints.
Responsible for evaluating significant risks and placing these risks in the center of audit planning. The Audit Team shall submit a report regarding the risks