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Internal Audit


The Purpose of Internal Audit
The purpose of Internal Audit is to assist the Board of Directors and top management to enhance the effectiveness and efficiency of the company’s operations, to assure the company’s profit, performance, and property, to compliance with applicable laws and regulations, by providing timely suggestions to assure the effective execution of internal control system.

Internal Audit Organization
Internal Audit is under the board of directors. Any appointment or discharge of internal audit manager shall be approved by the Board of Directors, and be reported to the SFB for recordation via the Internet-based information system by the 10th day of the month next following. 

Internal Audit Implementation
Internal auditors shall formulate annual audit plans based on the results of the risk assessment, including matters to be audited monthly, by which to check its internal control systems, and compile audit reports with annexing working papers and relevant materials. Annual internal audit plan and any amendment shall be approved by the Board of Directors. Independent directors have been set up in the Company. Annual audit plan shall be submitted to Board of Directors in accordance with the rules and opinions of each

independent director shall be given full consideration. Regularly audit in accordance with internal auditing schedule, and make auditing reports after each audit to be attached with relevant documents, and present shortcomings and improvement recommendations and continue to track improvement actions.

Internal auditors shall faithfully disclose in audit reports any defects and irregularities of the internal control systems discovered in inspection and, after having presented the reports, follow up on the matters and prepare follow-up reports on a regular basis to ensure that the relevant departments have taken appropriate corrective measures in a timely manner.

Internal auditors shall be detached, independent, objective, and impartial, in faithfully performing their duties, and in addition to reporting their audit operations to each supervisor on a regular basis, the internal audit officer shall also attend and deliver a report to a Board of Directors’ meeting.

The company and its subsidiaries shall prescribe the content of and procedures for self-audits and assessments of the internal control system, which is conducted at least once every year. Annual self-inspections of its internal control systems shall be first conducted periodically by all internal departments and subsidiaries themselves and reports shall be reviewed by internal auditors.

Corrections of any defects and irregularities of the internal control system discovered shall be the guidance for Board of Directors and President to evaluate the effectiveness and announce Internal Control System Statement. Self-inspections report and relevant materials shall be kept at least five years.

The Company shall announce the following matters in the prescribed format via the internet-based information system before the deadline designated by Financial Supervisory Commission.

1.Next year's audit plan by the end of each fiscal year shall be submitted before the end of each fiscal year.
2.Previous year’s internal auditor’s basic information together with their training hours received shall be submitted within one month from the end of each fiscal year
3.The execution of previous year's annual audit plan shall be submitted within two months from the end of each fiscal year
4.Previous year’s Internal Control System Statement shall be submitted within four months from the end of each fiscal year
5.Corrections of previous year’s any defects and irregularities of the internal control system discovered shall be submitted within four months from the end of each fiscal year


GlobalWafers Co., Ltd.
No. 8. Industrial East Road 2, Science-Based Industrial Park, Hsinchu, Taiwan, R.O.C. / TEL:+886-3-577-2255 / FAX:+886-3-578-1706 / +886-3-579-0405
c 2011 GlobalWafers Co., Ltd. All rights reserved.