The Audit Committee of the Company is composed of all Independent Directors, which is operated with main purpose of supervising the proper presentation of the financial statements of the Company, the election (discharge) as well as the independence and performance of certified public accountants, the effective implementation of the internal control, the compliance with relevant laws and regulations, and the control of the existing or potential risks of the Company.
The main responsibilities of the Audit Committee of the Company are as follows:
- Formulate or amend the internal control system in accordance with Article 14-1 of the Securities and Exchanges Act.
- Assess the effectiveness of internal control system.
- Formulate or amend procedures for handling major financial and business activities such as acquisition or disposal of assets, engaging in derivatives trading, lending funds to others, endorsing or providing guarantees for others in accordance with Article 36-1 of the Securities and Exchanges Act.
- Matters involving own interests of Directors.
- Material asset or derivative transactions.
- Major loans, endorsements or guarantees thereof.
- Offering, issuing or private enlisting of marketable securities.
- Appointment, discharge or remuneration of certified public accountants.
- Appointment and discharge of supervisors of finance, accounting or internal audit.
- Annual financial statement and semiannual financial statement.
- Other major matters specified by the Company or the competent authority.
Communication between Independent Directors and internal audit supervisor and accountants:
Communication between Independent Directors, internal audit supervisors and accountants (PDF)