Auditing department

Auditing department is an independent unit and under the board of directors, it is in charge of auditing all EMC departments' operation and promoting quality management in order to improve EMC's performance.

Manpower

Auditing department's lineup is senior staffs from different departments, they are dedicated auditing personnel. All auditing staffs are qualified in accordance with competent authorities' requirements, the internal auditors shall pursue continuing education as well as attend internal audit training held by institutions recognized by the FSC. A public company shall report to the FSC for recordation the names, ages, educational background, experience, seniority and training of its internal auditors by the end of January each year to MOPS annually.

Auditing department job function

The board of directors and managers established EMC's internal control system according to 5 constituent elements and 8 operating cycles in "Regulations Governing Establishment of Internal Control Systems by Public Companies" issued by Financial Supervisory Commission(FSC) and shipping industry's operation practice. Auditing department will execute scheduled or random auditing based on this internal control system and each department's operation procedures, internal control points . It shall make timely recommendations for improvements to ensure sustained operating effectiveness, the same is to pursue company's well operation and ensure:1. Effectiveness and efficiency of operation, 2.Reliability, timeliness, transparency and legality of reporting, 3.Compliance with applicable laws, regulations, and bylaws.

Auditing department should submit to the FSC for recordation its next year's audit plan and a report on the execution of its previous year's annual audit plan, and report to the FSC for recordation its corrections of any defects and irregularities. In addition, Auditing department should annually review the self-inspection reports prepared by all departments and subsidiaries, together with the reports on the correction of defects and irregularities of internal control systems discovered by its internal audit department, to serve as the primary basis for the board of directors and general manager to evaluate the overall efficacy of all internal control systems and to produce Internal Control System Statements, the Internal Control System Statement shall be published in the company's annual report, public offering and issuance prospectus, and other prospectuses in compliance with relevant regulations.