Audit Committee
MediaTek’s Audit Committee assists the Board 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:
- The effectiveness of company internal control process
- Auditing and accounting policies and procedures
- Potential conflicts of interests involving directors
- Material asset or derivatives transactions
- Material lending funds, endorsements or guarantees
- Offering or issuance of any equity-type securities
- Hiring or dismissal of an attesting CPA, or the compensation given thereto
- Appointment or discharge of financial, accounting, or internal auditing officers
- Financial reports
Audit Committee Membership
| Title | Name | Date Elected |
|---|---|---|
| Independent Director (Chairman) | Chung-Yu Wu | July 05, 2021 |
| Independent Director | Peng-Heng Chang | July 05, 2021 |
| Independent Director | Ming-Je Tang | July 05, 2021 |
| Independent Director | Syaru Shirley Lin | May 31, 2023 |
The independent directors communicate with the chief of internal audit executive (CAE) and the independent auditor at the regular Audit Committee meetings and in the separate meetings. The communication channels and interactions are functioned well.
The CAE reports the annual audit plan execution and audit finding improvement status to independent directors at least 4 times per year and the CAE reports material audit business updates to independent directors in the quarterly separate meetings. They also exchange their opinions for the effectiveness of internal control implementation of the Company.
the independent auditor and the independent directors meet at the Audit Committee meetings at least twice per year and additionally for a separate meeting at least once per year for review and assess financial statements and discuss relevant topics or to exchange their opinions.
For special or significant matters, the independent directors can access the CAE or independent auditor for discussion anytime.
Summary of the meeting agenda that was communicated between the independent directors and CAE is shown in the following table:
| Date | Meeting | Meeting Agenda | Independent Director's Comment |
|---|---|---|---|
| 2018.03.22 | Audit Committee | 1. Status update of 2017 Q4 audit plan execution and audit findings improvement 2. Review 2017 Internal Control Self-assessment result and the Statement of Internal Control System |
None |
| 2018.04.26 | Audit Committee | 1. Status update for 2018 Q1 audit plan execution and audit findings improvement | None |
| 2018.07.30 | Audit Committee | 1. Status update for 2018 Q2 audit plan execution and audit findings improvement | None |
| 2018.10.30 | Audit Committee | 1. Status update of 2018 Q3 audit plan execution and audit findings improvement 2. Approve 2019 internal audit plan |
None |
| 2019.01.29 | Audit Committee | 1. Status update of 2018 Q4 audit plan execution and audit findings improvement | None |
| 2019.03.21 | Audit Committee | 1. Review 2018 Internal Control Self-assessment result and the Statement of Internal Control System | None |
| 2019.04.29 | Audit Committee | 1. Status update for 2019 Q1 audit plan execution and audit findings improvement | None |
| 2019.07.30 | Audit Committee | 1. Status update for 2019 Q2 audit plan execution and audit findings improvement | None |
| 2019.10.29 | Audit Committee | 1. Status update of 2019 Q3 audit plan execution and audit findings improvement 2. Approve 2020 internal audit plan |
None |
| 2020.02.06 | Audit Committee | 1. Status update of 2019 Q4 audit plan execution and audit findings improvement | None |
| 2020.03.19 | Audit Committee | 1. Review 2019 Internal Control Self-assessment result and the Statement of Internal Control System | None |
| 2020.04.17 | Audit Committee | 1. Status update for 2020 Q1 audit plan execution and audit findings improvement | None |
| 2020.07.30 | Audit Committee | 1. Status update for 2020 Q2 audit plan execution and audit findings improvement | None |
| 2020.10.29 | Audit Committee | 1. Status update of 2020 Q3 audit plan execution and audit findings improvement 2. Approve 2021 internal audit plan |
None |
| 2021.01.21 | Meeting (separate meeting) | 1. Status update of 2020 Q4 audit plan execution 2. Key audit scope of 2021 Q1 audit plan |
None |
| 2021.01.26 | Audit Committee | 1. Status update of 2020 Q4 audit plan execution and audit findings improvement | None |
| 2021.03.16 | Meeting (separate meeting) | 1.Review 2020 Internal Control Self-assessment execution status | None |
| 2021.03.18 | Audit Committee | 1. Review 2020 Internal Control Self-assessment result and the Statement of Internal Control System | None |
| 2021.04.22 | Meeting (separate meeting) | 1. Status update of 2021 Q1 audit plan execution 2. Key audit scope of 2021 Q2 audit plan |
None |
| 2021.04.27 | Audit Committee | 1. Status update for 2021 Q1 audit plan execution and audit findings improvement | None |
| 2021.07.22 | Meeting (separate meeting) | 1. Status update of 2021 Q2 audit plan execution 2. Key audit scope of 2021 Q3 audit plan |
None |
| 2021.07.26 | Audit Committee | 1. Status update for 2021 Q2 audit plan execution and audit findings improvement | None |
| 2021.10.22 | Meeting (separate meeting) | 1. Status update of 2021 Q3 audit plan execution 2. Key audit scope of 2021 Q4 audit plan |
None |
| 2021.10.25 | Audit Committee | 1. Status update of 2021 Q3 audit plan execution and audit findings improvement 2. Approve 2022 internal audit plan |
None |
| 2022.01.25 | Meeting (separate meeting) | 1. Status update of 2021 Q4 audit plan execution 2. Key audit scope of 2022 Q1 audit plan |
None |
| 2022.01.26 | Audit Committee | 1. Status update of 2021 Q4 audit plan execution and audit findings improvement | None |
| 2022.02.22 | Meeting (separate meeting) | 1.Review 2021 Internal Control Self-assessment execution status | None |
| 2022.02.25 | Audit Committee | 1. Review 2021 Internal Control Self-assessment result and the Statement of Internal Control System | None |
| 2022.04.25 | Meeting (separate meeting) | 1. Status update of 2022 Q1 audit plan execution 2. Key audit scope of 2022 Q2 audit plan |
None |
| 2022.04.26 | Audit Committee | 1. Status update for 2022 Q1 audit plan execution and audit findings improvement | None |
| 2022.07.26 | Meeting (separate meeting) | 1. Status update of 2022 Q2 audit plan execution 2. Key audit scope of 2022 Q3 audit plan |
None |
| 2022.07.28 | Audit Committee | 1. Status update for 2022 Q2 audit plan execution and audit findings improvement | None |
| 2022.10.24 | Meeting (separate meeting) | 1. Status update of 2022 Q3 audit plan execution 2. Key audit scope of 2022 Q4 audit plan |
None |
| 2022.10.27 | Audit Committee | 1. Status update of 2022 Q3 audit plan execution and audit findings improvement 2. Approve 2023 internal audit plan |
None |
| 2023.01.30 | Meeting (separate meeting) | 1. Status update of 2022 Q4 audit plan execution
2. Key audit scope of 2023 Q1 audit plan |
None |
| 2023.02.02 | Audit Committee | 1. Status update of 2022 Q4 audit plan execution and audit findings improvement | None |
| 2023.02.20 | Meeting (separate meeting) | 1. Review 2022 Internal Control Self-assessment execution status | None |
| 2023.02.24 | Audit Committee | 1. Review 2022 Internal Control Self-assessment result and the Statement of Internal Control System | None |
| 2023.04.26 | Meeting (separate meeting) | 1. Status update of 2023 Q1 audit plan execution
2. Key audit scope of 2023 Q2 audit plan |
None |
| 2023.04.27 | Audit Committee | 1. Status update for 2023 Q1 audit plan execution and audit findings improvement | None |
| 2023.07.20 | Meeting (separate meeting) | 1. Status update of 2023 Q2 audit plan execution
2. Key audit scope of 2023 Q3 audit plan |
None |
| 2023.07.27 | Audit Committee | 1. Status update for 2023 Q2 audit plan execution and audit findings improvement | None |
| 2023.10.24 | Meeting (separate meeting) | 1. Status update of 2023 Q3 audit plan execution
2. Key audit scope of 2023 Q4 audit plan 3. 2024 internal audit plan |
None |
| 2023.10.26 | Audit Committee | 1. Status update of 2023 Q3 audit plan execution and audit findings improvement
2. Approve 2024 internal audit plan |
None |
Summary of the communication results of Audit Committee and Independent auditor.
| Date | Meeting | Communication Issues | Independent Director's Comment |
|---|---|---|---|
| 2019.03.21 | Audit Committee |
1. Independent auditors’ report on the financial statements 2. Testing results and findings of internal control testing 3. Evaluation on implementing process of IFRS 16 adoption 4. Key audit matters 5. Other significant accounting and auditing issues |
None |
| 2019.10.29 | Audit Committee |
1. Independent auditors’ report on the financial statements 2. Communicating key audit matters in the independent auditor’s report 3. Other significant accounting and auditing issues |
None |
| 2020.03.19 | Audit Committee | 1. Independent auditors’ report on the financial statements 2. Testing results and findings of internal control testing 3. Key audit matters 4. Other significant accounting and auditing issues |
None |
| 2020.10.29 | Audit Committee | 1. Independent auditors’ report on the financial statements 2. Communicating key audit matters in the independent auditor’s report 3. Other significant accounting and auditing issues |
None |
| 2021.03.18 | Audit Committee | 1. Independent auditors’ report on the financial statements 2. Testing results and findings of internal control testing 3. Key audit matters 4. Other significant accounting and auditing issues |
None |
| 2021.10.22 | Meeting (separate meeting) | 1. Communicating key audit matters in the independent auditor’s report 2. Regulatory developments |
None |
| 2021.10.25 | Audit Committee | 1. Independent auditors’ report on the financial statements 2. Other significant accounting and auditing issues |
None |
| 2022.02.25 | Audit Committee | 1. Independent auditors’ report on the financial statements 2. Testing results and findings of internal control testing 3. Key audit matters 4. Other significant accounting and auditing issues |
None |
| 2022.10.26 2022.10.27 |
Meeting (separate meeting) | 1. Key audit matters 2. Regulatory developments |
None |
| 2022.10.27 | Audit Committee | 1. Independent auditors’ report on the financial statements 2. Other significant accounting and auditing issues |
None |
| 2023.02.24 | Audit Committee | 1. Independent auditors’ report on the financial statements
2. Testing results and findings of internal control testing 3. Key audit matters 4. Other significant accounting and auditing issues |
None |
| 2023.10.24 | Meeting (separate meeting) | 1. Key audit matters
2. Regulatory developments |
None |
| 2023.10.26 | Audit Committee | 1. Independent auditors’ report on the financial statements
2. Other significant accounting and auditing issues |
None |