Corporate Governance & Board of Directors
Compal attaches great importance to operational transparency and corporate governance, in accordance with the company law, securities exchange law, other relevant laws, regulations and allocates the responsibilities of each unit in detail through its organizational chart. It has also established an effective corporate governance framework, strengthened the supervision of the functions of the board of directors, safeguarded the rights and interests of shareholders, respected the rights and interests of stakeholders, and improved information transparency. It adheres to the code of honest operation, and formulates various systems and regulations to implement the spirit of corporate governance, in order to improve the company's business performance and practice the sustainable operation of the enterprise. Compal integrity management implementation status: the director’s declaration of integrity has been signed up to 100%, and the correct concept of all employees is also carried out. The company has formulated and announced relevant policies and regulations on the official website, strictly prohibiting bribery, corruption and collusion. The regulations are also listed as e-learning compulsory courses for all colleagues on the internal website, as the basis of daily practice, so that the company's stakeholders can better understand the company's ethical standards, and ensure the company's sustainable operation and development. In addition to complying with the code of conduct of the RBA, we have also actively cooperated with customers' requirements on CSR and have made a commitment to anti-corruption ethical standards. In 2020, there was no punishment by the competent authority due to violation of relevant laws and regulations on honest operation and corruption.
When the meeting of Board of Directors is held, the Audit Director should not only report the implementation of the audit business, but also notify the person in charge of the case to attend the report and prepare the inquiry according to the proposal. In 2020, 6 meetings were held, with the average attendance rate of directors being 84.44%%.
The Remuneration Committee of Compal is composed of three independent directors, all of whom are male and over 65 years old. Its responsibilities are to assist the board of directors to evaluate and approve the remuneration level of directors and managers, so as to combine the remuneration with the operation performance of individuals and companies, achieve the rationality of remuneration distribution and attract outstanding talents to stay. A total of 4 meetings were held in 2020, and the average attendance rate of the remuneration committee was 91.67%.
The Audit Committee of Compal is composed of three independent directors, and the convener: Min Chih Hsuan; Committee members: Duei Tsai and Duh Kung Tsai. Its responsibilities are to assist the board of directors to evaluate Its responsibilities are to improve the supervision function and strengthen the management function, assist the Board of Directors to review the financial statements, internal control system, audit business, accounting policies and procedures, major asset transactions, the selection (dismissal) and independence and competency of accountants, the appointment and dismissal of accounting and internal audit directors and other related matters, so as to ensure that the company's operation complies with the provisions of the competent authority and relevant laws and regulations. After the audit report and tracking report are audited, the Internal Audit Director shall deliver them to each independent director for inspection before the end of the month following the completion of the audit project. If the independent director needs to further understand the audit and tracking results, he shall contact the audit director at any time. The internal audit reports to the audit committee on a quarterly basis and discusses in person at the meeting. The Audit Committee of Compal has good communication with the Internal Audit Director. Independent directors and certified public accountants shall communicate with each other on the audit results of financial statements and other matters required by laws and regulations at least once a year, and discuss on the appointment, independence and competence of accountants. In 2020, 4 meeting were held, and the average attendance rate of Audit Committee members was 91.67%.
September 02, 2021