Winbond - Internal Audit
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Internal Audit

Goals

The internal audit unit assists 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, and to accomplish for the target achievement.

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 audit include reviewing and inspecting the sufficiency and adequacy of the internal control system, providing timely recommendations for improvement, and ensuring the sustained effectiveness of the internal control system.

Object 
Internal audits shall include all operational units 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 internal and external environment and risk assessment. The major procedures or specific items shall be inspected from time to time.

Report 
The audit plans shall based 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 inspect and assess this company's internal control system, and the result of inspection and assessment shall be compiled as audit reports. The internal audit personnel shall also produce periodic reports that track the audited unit's response to the findings and recommendations of audit reports.