Audit Committee
Annual Focus of the Audit Committee
The Information on Audit Committee of the Company is composed of two Independent directors, Shih-Ying Huang and Jun-Ji Lin.
Note: Independent Director Cheng-Wen Wu assumes Minister of NFTC, and his resignation as Independent Director of M31 on May 19, 2024.
The Committee shall meet at least once a quarter for the purpose of overseeing the following matters:
(1) Fair representation of the Company’s financial reports.
(2) Evaluation and appointment / dismissal of the independence and performance of certified public accountant (CPA).
(3) Effective Implementation of internal control system.
(4) Compliance with relevant laws and regulations.
(5) Control over the existence or potential risks of the Company.
Main duties and responsibilities are as follows:
(1) Establish or amend the internal control system in accordance with Article 14-1 of the Securities and Exchange Act.
(2) Assessment of the effectiveness of the internal control system.
(3) Establish or amend procedures for the acquisition or disposal of assets, derivative transactions, lending of funds to others, endorsement or
guarantee of others in accordance with Article 36-1 of the Securities and Exchange Act.
(4) Review of matters involving directors’ own interests.
(5) Audit significant asset or derivative transactions.
(6) Audit significant loans, endorsements or guarantees of funds.
(7) Audit the raising, issuance or private placement of equity securities.
(8) Audit the appointment, dismissal or compensation of the CPA.
(9) Audit the appointment or removal the supervisor of finance, accounting or internal Audit.
(10) The annual financial statement (signed or stamped by the Chairman, manager, and accounting supervisor) and any quarterly financial statement
are subject to approval by the CPA.
(11) Other significant matters stipulated by the Company or competent authorities.