I. Audit Committee
According to the “Lextar Organic Regulation of Audit Committee,” all independent directors shall serve as the members of the audit committee. There shall be three members at the minimum. The Company’s audit committee has met the requirements.
The major duties of the audit committee are:
- Prescribe or amend the internal control system pursuant to Article 14-1 of the Securities and Exchange Act.
- Examine the effectiveness of the internal control system.
- According to Article36-1 of the Securities and Exchange Act, prescribe or amend the procedures for the acquisition or disposal of assets, derivatives transactions, lending of funds, endorsement or guaranty and other critical financial conducts.
- Any matter that a director has conflict of interest.
- Significant transactions of assets or derivatives.
- Significant lending of funds, endorsements or guaranty.
- Offering, issuance or private placement for any securities with the nature of shareholding.
- Appointment, termination or compensation of auditors.
- Appointment and termination of the officers of finance, accounting or internal audit.
- Financial reports.
- Operating reports and the measures of distribution of surplus or compensation of loss.
- Other critical matters prescribed by the Company or the competent authority.
The audit committee shall have the regular meeting at least once per quarter. The meeting attendance and other particulars of the audit committee can be found in the Company’s annual reports.
II. Members of the Fourth Audit Committee
Term of Office: June 6, 2019 to June 5, 2022
Independent director Mr. Wen, Sen Tai (Chairman)
Independent director Mr. Chen, Yih Lian