Information of Functional Committees
The Audit Committee has been established since June 2007 to oversee the financial affairs of the Company, the appointment (discharge) of certified accountants, and the control of independence, internal control, relevant legislation, and potential risks to assist the board of directors in its functions.
The Audit Committee shall hold a regular meeting at least once a quarter. Please refer to the Company’s annual report for the actual meeting of the Committee.
The matters discussed by the Audit Committee mainly include:
The function of the Remuneration Committee is to evaluate, in a professional and objective manner, the remuneration policies and system of the Company’s directors, supervisors, and managers, and to make recommendations to the board for its policy reference. The Remuneration Committee shall hold at least two regular meetings a year. Please refer to the Company’s annual report for the actual meeting of the Committee.
The matters discussed by the Remuneration Committee mainly include:
Board and Functional Committee Performance Evaluation
In order to implement corporate governance, enhance the function of the board of directors of the Company, and establish performance goals to strengthen the operational efficiency of the board of directors, the board of directors of the Company adopted the Directions for Performance Evaluation of the Board of Directors on December 26, 2019, and implemented it since 2009. The main evaluation period, evaluation scope and method, evaluation execution unit, evaluation procedure and other matters to be followed shall be handled in accordance with the provisions of the Directions.
The latest evaluation interval is January 1, 2020 to December 31, 2020. The relevant work has been started since January 2021, and the secretarial unit is in charge by the finance department. The evaluation results of 2020 will be disclosed on the official website and annual report after being reported to the board of directors in the first quarter.
The Company takes into account the situation and needs of the Company and sets up the measurement items of the board of directors performance evaluation, including the following five aspects:
The measurement items of the board members (self or peer) performance evaluation include the following six aspects:
The measurement items of the Functional Committee performance evaluation include the following five aspects:
External Evaluation of Board Performance: Taiwan Corporate Governance Association
In 2020, the Company entrusted Taiwan Corporate Governance Association for the first time to conduct the external evaluation of board performance and to evaluate the composition of the board of directors. The eight aspects of board guidance, authorization, supervision, communication, internal control and risk management, self-discipline, and other support systems were investigated by online self-assessment questionnaire and field visit. Taiwan Corporate Governance Association and its evaluation experts have no business relationship with the Company and are independent. The evaluation report issued by them will be disclosed on the official website and annual report after being reported to the board of directors in the first quarter of 2021.
The planning, execution, supervision, and assessment cycle of business operation, and the cooperation between the board of directors and the management team define the scope of the “Board Performance Evaluation Service” of the Association, including the following eight aspects:
General Comments and Suggestions