The company has established three functional committees under the Board of Directors: the Audit Committee, the Remuneration Committee and the Information Security Committee.
The Audit Committee was set up and comprised entirely of independent directors in February 2014 to replace Board Supervisors, pursuant to provisions in the Securities and Exchange Act. The committee’s operation is bound by the “Audit Committee Charter” and its main responsibility is to assist the board in overseeing the following:
1. Transparency and disclosure of the Company’s financial statements
2. Independent auditor’s appointment/termination and integrity/performance
3. Internal risk controls
4. Company’s compliance with legal and regulatory requirements
5. Company’s existing and potential risks
The compensation Committee, comprised entirely of independent directors, is bound by the “Compensation Committee Charter.” The committee is responsible for the following matters:
1. Establish a policy, system, standard and structure for directors and managers’ compensation and review them periodically
2. Determine compensation for directors and managers and carry out periodic evaluations
Information Security Committee
The Information Security Committee was set up and comprised of 3 directors (including 2 independent directors) in October 2020. Directors Jeff Ku and Hong-So Chen both have professional information security backgrounds which meet the professional requirements of the committee.
The Information Security Committee is bound by the “Information Security Committee Charter.” The committee is responsible for the following matters:
1.Review information management policies, formulate an information security and management framework and organizational functions, and periodically inspect development, establishment, and implementation results of company-wide information security and management mechanisms;
2.Review information management mechanisms of new services;
3.Verify discussions and response measures for losses due to information security incident(s);
4.Other matters stipulated by the review authority, Board of Directors, or any information security policy, or matters that need to be reported to the Board of Directors.