TSH Biopharm established audit committee according to the Securities and Exchange Act in June 15, 2017. The Company’s audit committee is comprised of three independent directors.

The powers of the Audit Committee are as follows:

1. The adoption of or amendments to the internal control system pursuant to Article 14-1 of the Securities and Exchange Act.
2. Assessment of the effectiveness of the internal control system.
3. The adoption or amendment, pursuant to Article 36-1 of the Securities and Exchange Act, of the procedures for handling financial or business activities of a material nature, such as acquisition or disposal of assets, derivatives trading, loaning of funds to others, and endorsements or guarantees for others.
4. Matters in which a director is an interested party.
5. Asset transactions or derivatives trading of a material nature.
6. Loans of funds, endorsements, or provision of guarantees of a material nature.
7. The offering, issuance, or private placement of equity-type securities.
8. The hiring or dismissal of a certified public accountant, or their compensation.
9. The appointment or discharge of a financial, accounting, or internal audit officer.
10. Annual and quarterly financial reports.
11. Other material matters as may be required by the Company or by the competent authority.

The main function of the Audit Committee is to supervise fair expression of the financial reports, the hiring (and dismissal), independence and performance of certificated public accountants, the effective implementation of the internal control system, compliance with relevant laws and regulations and management of the existing or potential risks.

Audit Committee shall convene at least once quarterly.
Please refer to our annual report for more information about the Audit Committee.The term of office of the current Audit Committee is from May 29, 2020 to May 28, 2023.

Wang, Chih-Li is the chairman of Audit Committee.
Huang, Yaw-Bin and Chen, Rwei-Syun are the members of Audit Committee.
Wang, Yi-Min, the former independent director of the Company, resigned on April 15, 2022. The by-election was held in the General Shareholders’ Meeting on May 25, 2022, and Huang, Yaw-Bin has been elected.