Audit Committee
M3Tek's Audit Committee assists the Board in overseeing the quality and integrity of the accounting, auditing,reporting and financial control practices of the company. The Audit Committee is responsible to review the Compnay's：
♦The effectiveness of the company internal control process.
♦The assessment of the effectiveness of the auditing and accounting policies and procedures.
♦ Matters involving directors' own interests.
♦ Material asset of derivatives transactions.
♦ Material lending of funds, endorsements of guarantees.
♦ Offering or issuance of any equity-type securities.
♦ The appointment of dismissal of an attesting certificated public accountants, or the compensation given thereto.
♦ Appointment or discharge of financial, accounting or internal audit officers.
♦ Other significant matters required by the Company or competent authorities.
Audit Committee Membership
|
Title |
Name | Elected Date |
| Chair | Zhi Feng Jiang | May 24, 2023 |
| Indenpendent Director | Zu-Ming Bi | May 24, 2023 |
| Indenpendent Director | Hsieh-Ju Peng | May 24, 2023 |
The independent directors regularly communicate with the internal audit Manager and the certificated public accountant. The communications channel and interactions are functioned well.
The internal audit manager reports the annual audit plan execution and audit finding improvement status to independent directors at periodic meetings. They also exchange their opinions for the effectiveness of internal control implementation of the Company.
The certificated public accountant discuss with the independent directors on the review or audit of the Company's financials, or on financial, tax and internal.
Summary of the meeting agenda that was communicated between the independent directors and internatl audit manager and CPA is shown in the following table:
| Date | Agenda comminucate with Internal Auditor |
Agenda comminucate with Certificated Public Accountant |
Independent Director's Comment |
|
Mar-2-2021 |
♦ Y2020 Statement of Internal Control System. ♦ M3Tek and subsidiaries internal control modification. ♦ M3tek and subsidiaries policies of Procurement Procedures for Acquiring or Disposing of Assets, Procedures for Endorsement Quarantees and Procedures for Capital Loans and Processing. ♦ Assets Managemetn Policy. ♦ Rules of Shareholders Meeting modification. ♦ Rules of Board Meeting modification. ♦ Application for Suspension and Resumption of Trading Procedures Policy. ♦ Procedures of the Preparation of Financial Statements Policy |
♦ Y2020 Financial Report ♦ Review CPA expenses and indepentendence |
None |
|
Feb-22-2022 |
♦ Y2021 Statement of Internal Control System. ♦ Procurement Procedures for Acquiring or Disposing of Assets ♦ M3tek and subsidiaries policies of Procurement Procedures for Acquiring or Disposing of Assets ♦ Sustainable Development Best Practice Principles ♦ Rules of Procedure for Shareholders Meeting |
♦ Y2021 Financial Report ♦ Review CPA expenses and indepentendence |
None |
| May-11-2022 | - | ♦ Y2022 Q1 Financial Report | None |
|
Aug-11-2022 |
♦ Y2021 correction of control deficiency report ♦ Y2022 H1 internal audit report |
♦ Y2022 Q2 Financial Report |
Good communicaton with auditee. Well established internal control system. |
| Oct-27-2022 | - | ♦ Y2022 Q3 Financial Report | None |
| Dec-20-2022 |
♦ Y2022 correction of control deficiency report ♦ Y2023 audit plan preparation |
♦ Y2022 Financial Report Audit Planning Matters | None |
| Feb-23-2023 | - |
♦ Y2022 Financial Report Audit Conclusion and other matters ♦ Y2022 Financial Report ♦ Review the Auditor's fee and the independence |
None |
| May-11-2023 |
♦ Y2023 internal audit inspection direction ♦ Y2023 Q1 internal audit report |
♦ Y2023 Q1 Financial Report | Continue to assist in improving electronic process efficiency. |
| Aug-10-2023 | - | ♦ Y2023 Q2 Financial Report | None |
| Nov-09-2023 |
♦ Y2023 correction of control deficiency report ♦ Explanation of the 2024 Annual Audit Plan Preparation ♦ Electronic Form Implementation Status Report |
♦ Y2023 Financial Report Audit Planning Matters ♦ Y2023 Q3 Financial Report |
Suggestion to strengthen the audit of information security management to protect the company's intellectual property, no other comments. Company situation: In 2023, computerized information system processing operations (including information and communication security checks) have been implemented. In the coming years, the monitoring will continue, and audit results will be reported. |