Administration
5
Auditing
In order to strengthen corporate governance and
associated duties and responsibilities at the TaiwanICDF,
the 63rd Board Conference approved the reassignment
of the Auditing Office. Starting from January 1, 2013,
the office will report directly to the Board of Directors.
Auditing operations at the TaiwanICDF are designed
to strengthen risk management and safeguard the
security of assets at the organization. Auditing assists
the Board of Directors and the Board of Supervisors
in examining the effectiveness of internal controls
and measuring and appraising the efficiency and
effectiveness of operations management. Audits provide
managers and departments with timely suggestions
on improving any such matters under investigation and
follow-up measures are implemented accordingly. This
safeguards the effectiveness of fund management and
ensures that operations are conducted transparently and
systematically.
Key auditing operations at the TaiwanICDF include:
(1) Examining the reliability and accuracy of financial and
operational information; (2) examining internal operations
and determining whether procedures have followed
relevant policies, regulations and procedural guidelines; (3)
examining whether assets 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) making onsite visits
to overseas missions to examine the status of internal
controls, as well as the performance of projects under
implementation; (6) performing field appraisals of the
status and results of projects in the post-implementation
stages of the project cycle, and identifying reasons for
the successes and failures of projects, to facilitate the
promotion and implementation of follow-up projects;
and (7) examining the progress and performance of
the organization’s annual work plan to ensure that its
objectives are realized efficiently and effectively.
Audits in 2012
A total of 33 audits were conducted in 2012,
including 33 cases allocated by either the Board of
Directors or Board of Supervisors, and two extraordinary
audits conducted at the request of senior management.
The content of these audits, representing issues of
concern to senior management and auditing units,
focused on risks and internal controls.
Audits for 2012 were as follows: 18 related
to operations; five to accounting; three to cashier
operations; two to financial management; and one
each to asset management, procurement, information
management, personnel and internal controls.
Results of Audits
In 2012, audits yielded a total of 89 suggestions: 44
on operations; 21 on internal controls; eight on cashier
operations; seven on asset management; three each on
accounting and personnel; two on procurement; and one
on information management.
Audits and subsequent conclusions were aimed
at strengthening internal controls and communication
between departments, raising colleagues’ awareness of
risks, guaranteeing the safety of the organization’s assets
and ensuring the reliability and accuracy of financial and
operational information.
64
55% Operations
15% Accounting
9% Cashier Operations
6% Financial Management
3% Personnel
3% Internal Controls
3% Asset Management
3% Procurement
3% Information Management
50% Operations
24% Internal Controls
9% Cashier Operations
8% Asset Management
3% Accounting
3% Personnel
2% Procurement
1% Information Management
Figure 18 Audits (2012)
Figure 19 Audit Suggestions (2012)
