57 / 98
57
4
Administration
Figure 11 Audits (2014)
Accounting and
Cash Operations 18%
Services
Management 9% ..............
Planning and
Management 15% .................................
..............
Property and Assets 6% .....................................
57% Operations
13% Personnel
.....................
........................................
.......................................
........
6% Payroll Affairs
9% Lending
and Investment
37% Operations
...........................
...........................
........................................
...........................................
.......................................
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Figure 12 Audit Suggestions (2014)
Accounting and
Cash Operations 18%
Services
Management 9% ..............
Planning and
Management 15% .................................
..............
Property and Assets 6% .....................................
Asset Management 5%
Accounting 6% ..........................
Information Management 5% ..................
Procurement 4% ............
.........
Internal Controls 4% ..........
Cashier Operations 4% ...............
Special Accounts 2% ..................
57% Operations
13% Personnel
............................
........................................
.......................................
................................
6% Payroll Affairs
9% Lending
and Investment
37% Operations
...........................
...........................
........................................
...........................................
.......................................
.............................
Auditing
Auditing assists the Board of Directors and the
Board of Supervisors to examine the effectiveness of
internal controls, to measure and appraise the efficiency
and effectiveness of operations management, and to
identify actual or potential deficiencies. Audits also
provide timely suggestions for improvement, and follow-
up measures are implemented accordingly so as to
safeguard the effectiveness of fund management and to
ensure that operations are conducted transparently and
systematically.
Key Auditing Operations
Key auditing operations at the TaiwanICDF include:
(1) Examining the accuracy of financial and operational
information, and the security of the management of
capital, data and various securities; (2) examining internal
operations and determining whether procedures have
followed relevant policies, regulations and procedural
guidelines; (3) examining whether assets at the
TaiwanICDF, overseas missions and those allocated to
projects are being utilized effectively and are correctly
itemized; (4) examining whether completed operations
and projects met their intended objectives and achieved
the results anticipated; (5) investigating projects and
making onsite visits to overseas missions to examine the
status of internal controls, as well as the performance of
projects under implementation; (6) appraising operations
relating to the TaiwanICDF’s key reforms over recent
years and examining the progress and performance
of the organization’s annual work plan to ensure that its
objectives are realized efficiently and effectively; and (7)
reviewing the internal control systems by which each unit
performs its own supervision and monitoring to ensure the
integrity and results of associated reports compiled for the
Board of Directors.
Audits in 2014
A total of 33 audits were conducted in 2014, all
approved by either the Board of Directors or Board of
Supervisors. The content of these audits, representing
issues of concern to senior management and external
auditing units, focused on risks and internal controls.
Audits for 2014 were as follows: 12 related to
operations; six to accounting and cashier operations; five
to planning and management; three each to lending and
investment, and services management; and two each to
property and assets, and payroll affairs.
Results of Audits
In 2014, audits yielded a total of 115 suggestions: 66
on operations; 15 on personnel; seven on accounting;
six each on information management, and asset
management; five on procurement; four each on internal
controls, and cashier operations; and two on special
accounts.
Audits and subsequent conclusions were aimed
at strengthening internal controls and communication
between depa tments, raising colleagues’ awareness of
risks, guaranteeing the safety of the organization’s assets
and ensuring the reliability and accuracy of financial and
operational information.