Winbond - Internal Audit
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Internal Audit

Goals

The internal audit assists the Board of Directors and top management to examine and review the findings for internal control mechanism, to measure the effectiveness and efficiency of the company’s operations, to provide advice properly, to ensure the internal control mechanism can be continuously implement and to be the basis of inspect and modify internal control mechanism.

Organization

The internal audit unit reports directly to the Board of Directors. The manager of internal audit unit shall be approved by the Board of Directors. The organization headcount of internal audit unit includes one manager and two internal audit personnel, and the foresaid headcount will be adjusted according to the actual operations.

Functioning

Scope
Internal audits shall include all operations of the company and its subsidiaries.

Method
Besides examining the mechanisms and results of self-assessment by each departments and subsidiaries, the internal unit also inspects and evaluates the overall operation activities of internal control system to ensure sustained design and operating effectiveness of the company. The frequency and content of the audit for each transaction cycle is prescribed by the laws and regulations and shall be based on the evaluation of risk assessment. The major procedures or specific items shall be inspected from time to time.

Report
The audit plans shall base on the result of the risk assessment, including matters to be audited and frequency, and approved by the Board of Directors. The audit plan shall be used to implement this company's internal control mechanism, and the result of assessment shall be compiled as audit reports. The internal audit personnel shall also produce periodic reports that track the audited unit's to complete the findings and to ensure audited units has selected proper corrective action.