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Ethical Management

Far Eastern New Century understands that if a corporation is operated corruptly and unethically it will harm the reputations of the corporation itself, society, and many other stakeholders.

In order to lower the risks of corporate corruption, Far Eastern New Century has not only included a rule on conflicts of interest in its board meeting regulations, but also implemented the idea of "Sincerity, Diligence, Thrift, Prudence, and nnovation", and coordinated behavioral norms such as the "Principles of Ethical Corporate Management" and "Code of Ethics" with appropriate reward systems and standards such as a variety of complete internal control system and operational methods (including managerial policies, authorization systems, and division of labor by function). This supplements the internal evaluation processes and allows for total control.

Far Eastern New Century has established multiple reporting channels (e.g. the audit committee and auditing department email addresses) through which stakeholders can report corrupt activities. The reporting channels are independent investigation mechanisms which conduct relevant investigation and inspection. In 2012 we undertook the "Board Meeting Management" and "Remuneration Committee" auditing tasks, checking that the management of the board's conflicts of interest and the running of the Remuneration Committee both met required standards. In addition, two cases of violations reported by retired employees and current employees were found not to have violated the legal policies of the corporation.

Audit Committee e-mail address:auditcommittee@fenc.com
Auditing Department e-mail address:feaudit@fenc.com

 

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