The Audit Committee

Pursuant with and in conformance to the Taiwan Securities and Exchange Act, the Aerospace Industrial Development Corporation (AIDC) has created an Audit Committee composed of independent directors presiding on AIDC's Board of Directors (BOD).

The primary purpose of the Committee is to supervise; the reliability and integrity of AIDC financial reports, the appointment and dismissal of its certified public accountants; and assessing such accountants' qualifications, independence and performance. In addition, the Committee is to supervise AIDC's effectiveness of internal controls, compliance with legal or regulatory requirements; and control over existing or potential risks.

The Committee's scope of authority which may be amended as the need may arise, is as follows:

  1. Adoption of or amendments to an internal control system pursuant to Article 14-1 of the Securities and Exchange Act.
  2. Assessment of the effectiveness of AIDC's internal control system.
  3. Adoption of or amendments to; procedures for handling financial or business activities of a material nature, such as acquisition or disposal of assets, derivatives trading, loaning of funds to others, and endorsements or guarantees for others pursuant to Article 36-1 of the Securities and Exchange Act,.
  4. Matters in which a director is an interested party.
  5. Asset transactions or derivatives trading of a material nature.
  6. Loans of funds, endorsements, or provision of guarantees of a material nature.
  7. Offering, issuance, or private placement of equity-type securities.
  8. Hiring or dismissal of a certified public accountant, or their compensation.
  9. Appointment or discharge of a financial, accounting, or internal auditing officer.
  10. Annual financial reports.
  11. Merger/consolidation or acquisition and joint venture matters.
  12. Any other material matters so required by AIDC or by competent authority having such jurisdiction.

The Committee shall convene at a minimum on a quarterly basis, and may call "ad hoc" meetings at its discretion whenever any committee member may deem necessary. Please refer to AIDC's Annual Report for the number of meetings convened and attendance rate of each committee member.

Audit Committee Members

Title Name Other Position
Chairman
(Executive and Independent Director)
Chan, Chia-Chung Vice President,
Tunghai University
Member
(Independent Director)
Chen, Yin-Chin Associate Professor,
Chung Yuan Christian University
Member
(Independent Director)
Lien, Li-Jen Practicing Attorney at Law



Compensation Committee

The compensation committee is set to assist the board of directors evaluate and execute the company's overall compensation and benefit policies, as well as undertake remuneration for the directors and managers.
According to ROC law, the members of the compensation committee are appointed by the Board. According to AIDC's procedure for the organization of the compensation committee, there should be no less than three members with at least one independent director. Currently, the AIDC’s compensation committee is composed of two independent directors and one professor of finance.
The compensation committee holds at least two meetings annually and reserves optional meetings depending on needs. For the meeting status and attendance of each member, please refer to company's annual report.

Compensation Committee Members

Title Name Other Position
Chairman Chan,Chia-Chung Independent Director Vice President ,Tunghai University
Member Chen,Yin-Chin Independent Director Associate Professor, Chung Yuan Christian University
Member Hsu,En-Tu Director Professor ,Tunghai University