Functional Committees

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.

 

You are now leaving our web site!

You are now leaving our web site. The web site you wish to link to is owned or operated by an entity other than M3 technology Inc. . We do not control this third party web site. We are providing this link for your convenience only and we are not responsible for the availability of or the content located on or through this third party web site, the accuracy, completeness, timeliness, or legality of any information contained in this third party web site, and any opinions expressed therein, nor for any link contained in this third party web site. This third party web site is not investigated, monitored, or checked for accuracy, completeness, timeliness, or legality, by M3 Technology Inc.. The link from our web site to this third party web site does not imply that we approve of, endorse, or recommend this third party web site. We expressly disclaim all warranties, express or implied, as to the accuracy, legality, reliability, timeliness, quality, or validity of any content on this third party web site.