Investor Relations

Governance

Internal Audit

Board of Directors

Audit Office

One audit officer

Adequate number of competent audit personnel

Internal audit unit and staffing

The internal audit unit of the Company is the Audit Office within the organization. It reports directly to the board of directors. CWE has one audit officer and an adequate number of competent audit personnel. The appointment, discharge, performance review and compensations of audit personnel are subject to the Chairman's approval in accordance with the Rules Governing the Hierarchy of Authority. The names, ages, education, experience, years of service, and training of the audit officer and personnel are filed with the Financial Supervisory Commission in the prescribed format through the Internet information system before the end of January of each year.

Internal audit operation

1. Implementation of internal audit work

(1) The Audit Office formulates an audit plan for the coming year based on the risk assessment results every year. The plan shall include annual audit plan items set out in Article 13 of the “Regulations Governing Establishment of Internal Control Systems by Public Companies.”
(2) The Audit Office examines the operations of audit plan items on a monthly basis and submits audit reports to directors and the Audit Committee for review.
(3) The Audit Office presents findings of internal audits in the quarterly board meetings.
(4) The Audit Office prompts the parent company and subsidiaries to conduct self-assessments at least once a year. Each unit fills out the self-assessment form to be reviewed by the Audit Office, and then submitted to the President and Chairman for approval. The self-assessment result is the basis for evaluating the effectiveness of the internal control system as a whole and issuing the statement of internal control system.

2. Filing of internal audits through the Internet information system

(1) Report the basic information of internal audit personnel for the current year and the continuing education of the previous year by the end of every January.
(2) Report the implementation of audit plans for the previous year by the end of every February.
(3) Report the statement of internal control system for the previous year by the end of every March
(4) Report the improvement status of internal control deficiencies and irregularities for the previous year by the end of every May.
(5) Report the audit plan for the coming year by the end of every December.