Implementation Status
The Audit Committee is responsible for supervising the implementation of internal control and compliance with laws and regulations, controlling existing or potential risks, helping the Board of Directors make decisions with its professional division of labor and independence.
The tasks of the Audit Committee mainly include the following:
1. Establish or amend the internal control system in accordance with Article 14-1 of the SEA.
2. Assess the effectiveness of the internal control system.
3. Establish or amend procedures for obtaining or disposing of assets, engaging in derivatives transactions, and handling material monetary loans in accordance with Article 36-1of the SEA.
4. Matters involving Director's personal interests.
5. Material asset or derivatives transactions.
6. Material monetary loans.
7. The offering, issuance, or private placement of any equity-type securities.
8. Appointment, dismissal, or remuneration of external auditors.
9. Appointment and dismissal of financial, accounting, or internal auditing supervisors.
10. Annual financial statements signed or sealed by the Chairman, manager and accounting officer and semi-annual financial statements audited and certified by the CPAs.
11. Material matters related to other companies or competent authorities.
To perform its duties, the Audit Committee has the authority to conduct any appropriate review and investigation and to engage a lawyer, CPA or consultant to help perform its duties.
1. Items listed in Article 14-5 of the Securities and Exchange Act
| Date of Board Meeting | Term | Agenda | Audit Committee resolution | The Company’s response to the comments of the Audit Committee |
| 2020.3.20 | 3rd meeting of the 6th Board of Directors in 2020 |
The consolidated financial statements of SinoPac Holdings and its subsidiaries for 2019 and the business report of SinoPac Holdings for 2019 | Adopted as proposed. | Modifications to the earnings distribution plan approved on the second amendment by the Board of Directors on 2020/3/20, as provided in Attachment 1 in the relevant notes to the consolidated financial statements, were adopted by the attending directors unanimously and subsequently ratified in the 2020 Annual General Meeting of Shareholders. |
| 2020.3.20 | 3rd meeting of the 6th Board of Directors in 2020 |
The earnings distribution plan of SinoPac Holdings for 2019 | Adopted as proposed | Modifications to the proposal, as provided in and attached to the minutes of the meeting, were adopted by the attending directors unanimously and subsequently ratified in the 2020 Annual General Meeting of Shareholders. |
| 2020.3.20 | 3rd meeting of the 6th Board of Directors in 2020 |
Appointment and compensation of CPAs in 2020 for SinoPac Holdings and its subsidiaries |
Adopted as proposed |
Adopted by the Board of Directors on 2020/3/20. |
| 2020.3.20 | 3rd meeting of the 6th Board of Directors in 2020 |
The Statement of Internal Control of SinoPac Holdings for 2019 | Adopted as proposed. |
Adopted by the Board of Directors on 2020/3/20. |
| 2020.6.19 | 3rd meeting of the 7th Board of Directors in 2020 |
Establishment of the "Regulations Governing the Assessment of the Independence and Suitability of Certified Public Accountants" of SinoPac Holdings | Modifications to the proposal, as attached to the minutes of the meeting, were adopted. | Adopted by the Board of Directors on 2020/6/19. |
| 2020.8.21 | 5th meeting of the 7th Board of Directors in 2020 |
The consolidated financial statements of SinoPac Holdings and its subsidiaries for 2020 Q2 | Adopted as proposed. | Adopted by the Board of Directors on 2020/8/21. |
| 2020.8.21 | 5th meeting of the 7th Board of Directors in 2020 |
Appointment and compensation of CPAs in 2020 at SinoPac Capital International (HK) Limited | Adopted as proposed. | Adopted by the Board of Directors on 2020/8/21. |
| 2020.12.25 | 9th meeting of the 7th Board of Directors in 2020 | The internal audit plan of SinoPac Holdings for 2021 | Adopted as proposed. | Adopted by the Board of Directors on 2020/12/25. |
2. Please refer to the Company’s past Annual Reports and the Market Observation Post System
(http://mops.twse.com.tw/mops/web/t100sb03_1, public company stock code: 2890) for the attendance status of the committee members.