Internal Audit

Chipbond’s Internal Audit is an independent unit that reports directly to the Board of Directors. The main responsibilities of internal audit is to assist the management team establish and execute internal control system to develop the Company’s operation, and to make sure if the Company achieve the following goals: 1.The effectiveness and efficiency of the operation. 2. The reliability, timeliness, transparency and compliance of the reporting. 3. The compliance of related regulations. Besides briefing the audit outcomes to the Board of Directors during its ordinary meetings, it reports to the Chairman and independent directors every month or when necessary.
An annual internal audit plan is edited with reference to the outcomes of risk assessment each year. Auditors execute the audit plan resolved by BOD, assess independently the performance and execution of the operation, and prepare the audit report to disclose anything discovered during inspection and make the conclusion. The audit report should be reviewed by the Chairman and independent directors. For those defects and irregularities found during audit, auditors should make timely recommendations for improvements and follow those actions until such time the correction is made.

The internal auditors review the self-assessments of individual departments, including inspecting if the self-assessment is performed and if the documents is completed with quality. Furthermore, the internal auditor summarize the results of self- assessments and report to BOD and management, and the results will be the reference of effectiveness of internal control system and the Internal Control System Statement.

The appointment and dismissal of internal audit officer is approved by Audit Committee and resolved by board of director. The appointment and dismissal, performance evaluation and compensation of internal auditors are submitted by of internal audit officer to the Chairman for review and approval. The performance evaluation will be performed once a year.