Corporate Governance

Board of Directors（BOD）

• Board of Directors（BOD）

 

Committees

• Audit Committee
• Salary Committee

 

Internal Audit

Purpose and Organization of Internal Audit:

MPI's Internal Audit aims to assist its Board of Directors and management team to inspect and review deficiencies in the internal control systems, and perform audits to achieve effective and efficient operations. MPI's Internal Audit is an independent unit that reports directly to the Board of Directors. The appointment or dismissal of Head of Internal Audit shall be approved by Audit Committee and further submitted to the BOD's Meeting for a resolution. Appointment, dismissal, performance evaluation and compensation of internal audit staffs shall be submitted by the Chairman for approval.

Operation of Internal Audit:

The internal auditors shall be detached, independent, objective, and impartial, in faithfully performing their duties, and shall exercise due professional care, and in addition to reporting their audit operations to Board of Directors on a regular basis, the internal audit officer shall also attend and deliver a report to Chairman and Audit Committee quarterly or as needed basis.
A public company's internal audit unit shall formulate annual audit plans based on the results of the risk assessment and approved by Board of Directors. The audit findings of internal control weakness and exceptions shall be followed up and reported to ensure that the corrective action plans were timely and fully executed.
In addition, the Internal Audit reviews the control self-assessment reports of all units and subsidiaries, together with the deficiencies of internal control discovered by the auditing unit and improvements of abnormal events. Based on the self-assessment report, along with the improvement status of the findings in the past audits, the Board of Directors and President will judge the design and operating effectiveness of MPI's internal control system and then sign the Internal Control System Statement for MPI.

Situation of communication between independent directors and internal audit supervisors:

Chief auditor regularly reports to Audit Committee for the execution of audit activity and implementation of follow-up reports.

Ways of communication between independent directors and internal audit supervisors:

Chief auditor regularly reports audit results to Independent Directors in the Board Meeting and Audit Committee, and communicates with Independent Directors the results of audit reports and the execution of follow-up reports.

The outlines of communications with Independent Directors and chief auditor:

Date	Communication subject	Communication outcome
2024.01.31 Audit Committee	Report on the execution of the 2023 Q4 internal audit and its outcome.	Fully understood by the Independent Directors and acknowledged, proposal was approved as proposed.
2024.03.07 Audit Committee	2023 internal control statement.	Fully understood by the Independent Directors and acknowledged, proposal was approved as proposed.
2024.05.08 Audit Committee	Report on the execution of the 2024 Q1 internal audit and its outcome.	Fully understood by the Independent Directors and acknowledged, proposal was approved as proposed.
2024.08.13 Audit Committee	Report on the execution of the 2024 Q2 internal audit and its outcome.	Fully understood by the Independent Directors and acknowledged, proposal was approved as proposed.
2024.11.12 Audit Committee	2025 Audit Plan	Fully understood by the Independent Directors and acknowledged, proposal was approved as proposed.
	Report on the execution of the 2024 Q3 internal audit and its outcome.

 

Major Internal Policies

• Article of Incorporation
• Rules and Procedures of Annual General Meeting
• Rules and Procedures of Board of Directors
• Compensation committee charter
• Procedures of Acquisition or Disposal Assets
• Procedures of lending funds to other parties
• Procedures of endorsement and guarantee
• Policies and procedures of financial derivatives trading
• Adoption of Codes of Ethical Conduct
• Corporate Governance Best Practice Principles
• Sustainable Development Best Practice Principles
• Ethical Corporate Management Best Practice Principles

 

The Company’s 10 largest shareholders:

April 30, 2024