The Issues of Internal Control Mechanism of Public Corporations in Taiwan--Focus on Supervisors System and Audit Committee System
Date Issued
2014
Date
2014
Author(s)
Hsieh, Yiu-Yun
Abstract
In Taiwan, the internal control mechanism of a Public Company was the two-tier board system before. But the supervisors system had been criticized for its invalid function. The main reason for the failure of internal control is due to the lack of supervisors’ independence and expertise. And that is also because the election of supervisor must be supported by the directors who are the controlling shareholders. In 2006, to improve corporate governance, the government introduced the independent directors and audit committee systems, and thus amended the Stock Exchange Act. A new corporate governance system dramatically reformed in Taiwan. However, are the internal control problems resolved? Does this amendment work in Taiwan?
In this thesis, the author pointed out the questions of internal control models and reviewed the issues of Supervisors system and audit committee system. And the author also studied the issues of two systems. The following are the research scope and content of each chapter:
Chapter 1 entitled “Introduction”, which describes the research motivation, purpose, scope, methods and framework of the thesis. Chapter 2 entitled “Overview of Corporate Governance”, which introduces the scope, the principle and the classification of corporate governance. Chapter 3 entitled “The study of foreign internal control system in law ”, because the audit committee system was introduced from American law, so this chapter focus on American law. Chapter 4 entitled “The issues of internal control mechanism of corporations- focusing on supervisors system and audit committee system”, which point out the problems in Taiwan, meanwhile suggestions of how to improve the system of internal corporate governance are offered. Chapter 5 entitled “Conclusion”, which combines all the results of the thesis and makes a clear conclusion.
Keywords：Supervisors System, Two-tier Board System, Audit Committee System, Internal Control Mechanism.
Subjects
監察人
獨立董事
審計委員會
內部監控
Type
thesis
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