Sustainable Governance

Management Organization Structure

Governing body

Board of Directors

ABC has a total of 10 members on the board, including 3 independent directors who participate in board meetings. The board includes 2 female members making up 20% of members. In terms of age distribution, 4 directors were aged below 60 and 6 directors were aged 60 and above. All members of the board have complied with "Directions for the Implementation of Continuing Education for Directors and Supervisors of TWSE Listed and TPEx Listed Companies" and completed at least 6 hours of courses each as of August 12, 2021; an aggregate 60 hours of education were completed in 2021. A total of 7 Board of Directors meetings were held in 2021; below are the attendance records:
Governing body

Audit Committee

ABC assembled its Audit Committee in accordance with the Securities and Exchange Act during the 2020 Annual General Shareholders'Meeting, at which time the Company’s supervisors were relieved from duty. The Audit Committee is composed of three independent directors. The Audit Committee is responsible for supervising fair presentation of the Company's financial statements, appointment/ dismissal and independence/performance review of financial statement auditors, implementation of an internal control system, compliance with relevant laws and rules, and management/control of existing or potential risks. The Audit Committee convened five times in FY2021, with 100% attendance.

Compensation Committee

The Compensation Committee of ABC is composed of 4 members. The term of office of the Compensation Committee is from August 11, 2020 to June 22, 2023, and the Compensation Committee convened four times in FY2021. The main responsibilities of the committee are to set and regularly review performance evaluation compensation policies, systems, standards, and structures of directors and managers, and regularly assess and determine managers', directors', and supervisors' compensation.

Internal Audit

Based on its risk assessment, ABC establishes an annual audit plan, which is approved by the board of directors for implementation. The internal audit unit submits monthly internal audit reports to independent directors for review and approval, and presents financial reports to the Audit Committee and the Board of Directors and communicates with the directors and the CPAs during said meetings. In 2021, each department conducted its own internal control self-assessments on various aspects of its operations, including the update of business results, efficiency, target accomplishment, target accomplishment, reliability of reported financial information, and regulatory compliance, and found that the design and execution of internal control system to be effective at providing reasonable assurance for the abovementioned goals

Corporate Social Responsibility Committee

Given that 2020 was ABC's initial year for "CSR Actions,"the Company not only established a"Corporate Social Responsibility Policy,"but also established a"Corporate Social Responsibility Committee" (CSR Committee) in which the Chairman serves as the "Chair," whereas members of the management serve as Deputy Chairs, the CEO's Office serves as executive secretary, the heads of department serve as Enforcement members, and their representatives serve as Execution members. Together, they are responsible for the planning and goal-setting of ESG issue planning and target setting, and hold meetings at least once a year to ensure the enforcement of CSR policies.
Governing body