Functional Committee
Audit Committee
TCC established Audit Committee and it's charter in accordance with regulations. It consists of all three independent directors of the Company and shall meet at least once per quarter. The purpose of its establishment includes to assist the Board of Directors in supervising the Company's financial statements to be present fairly, the appointment, independence and performance of CPA, the operating effectiveness of internal control system, the Company's compliance with relevant laws and regulations, or risk management on existing or potential risks of the Company, including the quality and integrity of accounting, auditing, financial reporting processes and financial controls.
The Audit Committee shall have the right to conduct any proper review and investigation in accordance with its charter and to contact directly with internal auditors, CPA and even all employees in performing its duties. It also has the rights to hire and supervise lawyers, accountants or other consultants for assisting the Audit Committee in performing it's duties.
The matters to be approved by the Audit Committee are mainly included:
The Audit Committee shall have the right to conduct any proper review and investigation in accordance with its charter and to contact directly with internal auditors, CPA and even all employees in performing its duties. It also has the rights to hire and supervise lawyers, accountants or other consultants for assisting the Audit Committee in performing it's duties.
The matters to be approved by the Audit Committee are mainly included:
- Adoption or amendment of an internal control system.
- Assessment of the effectiveness of the internal control system.
- Adoption or amendment, of handling procedures for financial or operational actions of material significance, such as acquisition or disposal of assets, derivatives trading, extension of monetary loans to others, or endorsements or guarantees for others.
- A matter bearing on the personal interest of a director.
- A material asset or derivatives transaction.
- A material monetary loan, endorsement, or provision of guarantee.
- The offering, issuance, or private placement of any equity-type securities.
- The hiring or dismissal of an attesting CPA, or the compensation given thereto.
- The appointment or discharge of a financial, accounting, or internal auditing officer.
- Annual financial reports and second quarter financial reports.
- Any other material matter so required by the Company or the Competent Authority.