Internal Audit
Organization
StemCyte Biotech has established an independent internal audit unit under the Board of Directors. The unit is staffed with qualified and sufficient internal auditors based on the company’s size, business activities, management needs, and other regulatory requirements.
The appointment, evaluation, and compensation of internal auditors are determined as follows: The appointment or dismissal of the chief internal auditor requires the Audit Committee’s consent and Board approval, while other related matters are approved by the Chairman. The procedures for the appointment and dismissal of internal auditors are outlined in the company’s Internal Audit Implementation Rules.
Purpose
Internal audits are conducted according to the internal control system and audit plan approved by the Board of Directors. The purpose is to evaluate the operational status of internal controls and provide timely recommendations to ensure the design and execution of internal controls remain effective.
Scope of Audits
The scope includes all internal control processes within the company.
Responsibilities
- Adhere to the principles of independence and integrity, performing duties objectively and impartially with the necessary professional diligence.
- Regularly report audit activities to the Audit Committee, and the chief auditor also attends Board meetings to provide updates.
- In the event of significant violations or potential major losses to the company, promptly prepare a report for review and notify all independent directors on the Audit Committee.
- Pursue ongoing professional development by attending internal audit training courses organized by institutions designated by the Securities and Futures Bureau to enhance audit quality and capabilities.