Duties
The Committee is composed of all independent directors, the main duties of the Committee are:
- Formulate or amend the internal control system in accordance with Article 148-3, Paragraph 1 of the Insurance Act, Article 14-1 of the Securities and Exchange Act.
- Evaluation of the effectiveness of an internal control system.
- Formulate or amend procedures for handling significant financial operations involving the acquisition or disposition of assets, engaging in derivative transactions, lending funds to others, endorsing or providing guarantees for others in accordance with Article 36-1 of the Securities and Exchange Act.
- Formulate or amend the procedures for engaging in derivative transactions, investing in publicly traded unlisted and private placement securities, lending money to interested parties or other transactions in accordance with Article 146-8, Article 146-1, Article 146-3 and Article 146-7 of the Insurance Act.
- Matters involving the personal interest of Directors.
- Material asset or derivatives transactions.
- Material monetary loans, endorsements, or provisions of guarantees.
- The offering, issuance, or private placement of any equity-type securities.
- The hiring, discharge, or compensation of an attesting CPA and Actuary.
- The appointment or discharge of a financial, accounting, or internal audit officer.
- Annual financial statements signed or sealed by the Chairman, managers, and chief accounting officer and the second quarter financial statements audited and attested by CPAs.
- Any other material matter so required by the competent authority.
The Audit Committee shall hold at least once ever quarter and, within its terms of reference, may request the attendance of and provide necessary information to relevant department managers, internal auditors, accountants, legal counsel or other personnel. However, they should leave the meeting during discussions and voting.
Convener
Independent Director
Henry Yang
Academic Degree：Master in Actuarial Science, Georgia State University
Current Position：Independent Director, Mercuries Life
Current Position：Independent Director, Mercuries Life
Members
Independent Director
Henry Yang
Academic Degree：Master in Actuarial Science, Georgia State University
Current Position：Independent Director, Mercuries Life
Current Position：Independent Director, Mercuries Life
Independent Director
Justin Tsai
Academic Degree：MBA, Indiana University
Current Position：Independent Director, Ali Corporation. Independent Director, Elite Material Co.,Ltd.
Current Position：Independent Director, Ali Corporation. Independent Director, Elite Material Co.,Ltd.
Independent Director
Wei Yu Kuo
Academic Degree：Ph.D. in Financial Economics, University of Cambridge
Current Position：Professor of Department of International Business, NCCU
Current Position：Professor of Department of International Business, NCCU
Communication between Independent Directors and Internal/External Audiitors
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