Compal and its overseas production centers, as well as customers and suppliers, are linked via EDI (Electronic Data Interchange), which simplifies processes and ensures complete records through back-end database integration. By taking full advantage of global market trends, we have been able to apply the best regional practices on a global scale, while at the same time simplifying the customer service system. By utilizing our existing production and marketing systems, we have the ability to produce products in great varieties and small quantities within a very short time. Currently, we take only 48 hours from ordering to shipment, which enables us to provide the most comprehensive and immediate services to meet customers' needs.
Board of Directors Department
Directors are chosen from persons with extensive industrial, commercial, business administration, and academic expertise and experience. Currently, the Board consists of 15 directors (including 3 independent directors), all of whom are male, including 1 in the 31-50 age group and 14 are aged over 51. The Board of Directors exercise their rights based on legal regulations, the company chapter, and resolutions of Shareholders' Meetings and is responsible for planning the Company’s strategies and monitoring the management team and effectiveness of the operation to ensure maximum benefits to the Company’s stakeholders and create maximum profits for the shareholders. The Chief Auditor is regularly invited to report on the audit progress during Board of Directors’ Meetings. Apart from the Chief Auditor, other employees may also be called to participate in Board Meetings, depending on the agenda discussed. The Board held 6 meetings in 2017; directors’ attendance rate averaged 80.00%.
The remuneration committee of the Company is composed of 3 independent directors, both male and over 51 years of age. Its responsibilities are to assist the Board in assessing and approving the remuneration levels of directors, supervisors and managers, so that the remuneration is combined with individual and company operating performance to achieve the rationality of remuneration and attract retained talents. In 2017 the committee was held 4 times and the average attendance rate of the remuneration committee was 75.00%.
Membership of the Audit Committee is composed of 3 independent directors; all of whom are male and aged 51 and above. The Audit Committee exists as an enhancement to the Company's supervisory and management function. It assists the Board of Directors on various decisions such as financial statement review, internal control policy, internal audit, accounting policies and procedures, major asset transactions, appointment/dismissal/independence review/suitability review of certified public accountants, appointment/dismissal of chief accountant and chief auditor, etc., thereby ensuring that the Company operates in compliance with the authority's instructions and relevant laws.
Once the audit report and tracking report have been prepared and approved by Compal’s Chief Auditor, they are presented to each independent director for review before the end of the month following the audit. Independent directors may contact the Chief Auditor at any time should they require further information on the audit task or follow-up progress. The Chief Auditor reports to the Audit Committee on a quarterly basis regarding the audit progress and engages participants in discussions during the meetings. The Company’s Audit Committee has been communicating properly with the Chief Auditor. Independent directors engage external auditors to discuss the outcome of the financial statement audit and other legal issues deemed relevant at least once a year. Independent directors are also involved in decisions such as appointment, independence review, and suitability review of certified public accountants. The Committee held 5 meetings in 2017; members’ attendance rate averaged 80.00%.
In order to ensure the rights and interests of investors, the chairman of the Company don’t responsible the manager duties, and we also Insure for all directors, supervisors and major employees, and after a year contract renew, submit these insurance information report to mention the last Board meeting. The average education hours of the directors were 80 hours in 2017 according to the “Directions for the Implementation of Continuing Education for Directors and Supervisors of TWSE Listed and TPEx Listed Companies”.