Audit Committee

MTI's Audit Committee assists the Board of Directors in fulfilling its oversight of the quality and integrity of the accounting, auditing, reporting, and financial control practices of the Company.

The Audit Committee is responsible to review the Company's:

  1. The effectiveness of company internal control process
  2. Auditing and accounting policies and procedures
  3. Potential conflicts of interests involving directors
  4. Material asset or derivatives transactions
  5. Material lending funds, endorsements or guarantees
  6. Offering or issuance of any equity-type securities
  7. Hiring or dismissal of an attesting CPA, or the compensation given thereto
  8. Appointment or discharge of financial, accounting, or internal auditing officers
  9. Financial reports
  10. Other important events

 

Audit Committee Membership

Title

Name

Date Elected

Independent Director

and Chairwoman

Yun Lin

June 19, 2019

Independent Director

Golub Drakulovic

June 18, 2020

Independent Director

Jong Wang

August 26, 2021

The independent directors communicate with the chief of internal audit and the CPAs at the regular Audit Committee meetings.(at least once every quarter) The chief of internal audit reports the annual audit plan execution and audit finding improvement status to independent directors at periodic meetings. They also exchange their opinions for the effectiveness of internal control implementation of the Company. The CPAs fully discusse with the independent directors about the finance report, tax and internal control events.

The communication between the Independent Directors and the Chief Internal Auditors and the CPAs, and the summary of the result: the independent directors have no objections against the following issues and passed the motions after review or approval with report to the Board.

Date Session

Communication focus

2021.03.17
The 5th session
of the 2nd Audit Committee

  1. The pursuit of the audit plan from November 2020 to March 2021, and the corrective action taken in response to the audit findings.
  2. Declaration of Internal Control System in 2020

2021.05.05
The 6th session
of the 2nd Audit Committee

  1. The pursuit of the audit plan from March to April, 2021, and the corrective action taken in response to the audit findings

2021.08.10
The 7th session
of the 2nd Audit Committee

  1. The pursuit of the audit plan from May to July, 2021, and the corrective action taken in response to the audit findings
2021.11.05
The 8th session
of the 2nd Audit Committee

 

  1. The pursuit of the Audit Plan from August to October, 2021, and the corrective action taken in response to the audit findings.
  2. 2022 Annual Audit Plan.

The communication between the Independent Directors and the CPAs and the summary of the result: the independent directors have no objections against the following issues and passed the motions after review or approval with report to the Board.

Date Session

Communication focus

2021.03.17
The 7th session
of the 2nd Audit Committee

1. Audit report on 2020 MTI financial reports
2. Communication of key audit matters
3. Other materiality in accounting and audit

2021.05.05
The 8th session
of the 2nd Audit Committee

1. Audit report on 2021 Q1 MTI financial reports
2. Communication of key audit matters

2021.08.10
The 9th session
of the 2nd Audit Committee

1. Audit report on 2021 Q2 MTI financial reports
2. Communication of key audit matters

2021.11.05
The 10th session
of the 2nd Audit Committee

1. Audit report on 2021 Q3 MTI financial reports
2. Communication of key audit matters

 

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Remuneration Committee

The Remuneration Committee aims to assist the board of directors in formulating and reviewing directors and managers' performance evaluation and remuneration policies, systems, standards and structures, as well as evaluating and setting directors and managers' remuneration.
According to the Remuneration Committee Chart, the Committee shall consist of 3 members, at least one independent director appointed by resolution of the board of directors. In accordance with the article 8 of Remuneration Committee Chart, meetings of the Committee shall be held 2 times a year, and may hold an extraordinary meeting as needed. The committee convened for 2 times in 2021 to regularly review the policies, systems, standards and structures of directors and managers’ remuneration. In addition, the performance of the Board will be subject to evaluation once annually, and the first external agency evaluation will be conducted this year. The evaluation result will be presented to the Remuneration Committee and the Board for reporting by the end of the 1st quarter of the next year.

 

 

Remuneration Committee membership

Title

Name

Date Elected

Independent Director

and Chairwoman

Golub Drakulovic

December 17, 2020

Independent Director

Yun Lin

July 3, 2019

Committee member

Chi-Yuan Chang

July 3, 2019

The Remuneration Committee of the Company is consisted of 3 members. Tenure of the members for the 4th Remuneration Committee: 2019.07.03 to 2022.06.18. The Remuneration Committee has convened two times  in 2021 with the attendance of the members specified below:

Title

Member

Actual attendances

Attended by proxy

Convener

C. L. Liu

2

0

Member

Yun Lin

2

0

Member

Chi-Yuan Chang

1

0

Motions for discussion by the Remuneration Committee and resolutions: The following has been reviewed or approved by the members with no objection, and reported to the Board for final approval.

Date Session

Major resolutions

2021.03.17

Recommendation for the remunerations to Directors and managerial officers in 2021.

The result of Evaluation of Board Performance.

2021.11.05

Recommendation for the remuneration to the by-elected director, remuneration and salaries to the new managers in 2021.

 

 

 

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