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Independent Directors Communication

  1. The independent directors and supervisors of the Company can investigate the operation and financial position of the Company at any time, and request the Board of Directors and managers to report. Where necessary, they may contact the external auditors of the Company.
  2. The chief internal auditor of the Company shall present audit reports to the independent directors and supervisors at regular intervals.

 

Summary of the communications among the Independent Directors, Supervisors, and Chief Internal Auditors:

Year

Major communication

2016

  1. Report on the operation of the Auditing Office.
  2. The findings of the internal audit of the internal control system in 2015 indicated no material defect with the issuance of the “Declaration of Internal Control” for proof of the effectiveness in the design and implementation of the internal control system of the Company.
  3. Audit Plan in 2017.

2017

  1. Report on the operation of the Auditing Office.
  2. The findings of the internal audit of the internal control system in 2016 indicated no material defect with the issuance of the “Declaration of Internal Control” for proof of the effectiveness in the design and implementation of the internal control system of the Company.
  3. Audit Plan in 2018.
2018
  1. Report on the operation of the Auditing Office.
  2. The findings of the internal audit of the internal control system in 2017 indicated no material defect with the issuance of the “Declaration of Internal Control” for proof of the effectiveness in the design and implementation of the internal control system of the Company.
  3.  Audit Plan in 2019.

 

Summary of the communications among the Independent Directors, Supervisors, and certified public accountants:

Year

Major communication

2016

  1. Change of the Company’s financial statement auditors since the fourth quarter of 2016 to Wen, Fang-Yu and Cheng, Ya-Huei, and introduction of their education, experience and expertise.
  2. Significant change of external auditor’s audit opinion- Key audit matter of corporate financial statements.
  3. External auditor’s response and discussion towards questions raised by the attendees.

2017

Communication with the governance unit:

  1. Scope of audit
    1. Audit on the financial statements of the group

    2. Materiality and audit opinions
  2. Matters for communication
    1. Significant accounting estimate
    2. Key audit matters
    3. Major adjustment of listing
    4. Other matters for communication
 2018
  1. Communication with the governance unit:
    1. Scope of audit
      1. Audit on the financial statements of the group
      2. Materiality and audit opinions
    2. Matters for communication
      1. Significant accounting estimate
      2. Key audit matters
      3. Major adjustment of listing
      4. Other matters for communication
    3. Latest update in laws & regulations and accounting standards
      1. Amendments to the Income Tax Act of Taiwan
      2. IFRS 9 “Financial Instruments”
      3. IFRS 15 “Revenue from Contracts with Customers”
      4. IFRS 16 “Lease”
  2. Introduction to the amendments to the Company Act:
    1. Compromise of the latest amendments
    2. 6 major focuses of the amendments disclosed by the Executive Yuan

    3.  Observation of the amendments

IR Contacts

Public Relations Manager

Ms. Sammy Huang

stock@mic.com.tw

Tel : +886-3-3289000 ext. 7685

Stock Agency

China Trust Commercial Bank - Stock Agency Department

5F., No.83, Sec. 1, Chongqing S. Rd., Zhongzheng Dist., Taipei,Taiwan, R.O.C.

Tel : +886-2-6636-5566

https://www.ctbcbank.com