省思公司治理下之內部監督機制——以獨立資訊管道的強化為核心

Rethinking Internal Monitoring Mechanisms of Corporate Governance: An Approach to Strengthening Independent Information Channels

從本文檢視的案例似可發現，欲使含內控制度、法令遵循與風險管理在內之公司內部自律機制確實運行、董事監督義務有效發揮，企業內部資訊流通乃關鍵之前提。本文透過組織行為之觀點，分析董事會決策過程之步驟，以瞭解資訊流通扮演的角色；並藉此印證：確保獨立之資訊獲取管道以提供董事會多樣的資訊來源，乃強化我國公司治理下之內部監督機制的重要關鍵。又本文認為，自現行我國公司治理模式觀之，無論是雙軌制下的監察人與獨立董事，抑或是單軌制下之審計委員會，均有企業內部資訊流通的缺失存在。鑑此，本文綜合提出以下改革芻議：公司監督者直接掌控內部稽核與外部稽核、強化舉報制度、公司監督者獲得外部法律或其他專業顧問之建議與協助。

After examining the scandals of the First Securities Investment Trust Corporation in Taiwan, those of Toyota and Olympus in Japan, and the financial crisis that swept through the global capital market, we seem to be able to find that internal information flow might be a deter-minant prerequisite for the well-functioning of internal corporate gov-ernance mechanisms, including internal controls, legal compliance pro-grams and risk management mechanisms, as well as the legal duty to monitor. This article, from the perspective of organizational behavior, analyzes the steps in the process of a board’s decision making in order to know what role internal information flow within a corporation plays in the board process. Through this analysis, this study demonstrates that ensuring independent information gathering channels to provide the board with a variety of governance information might be a key factor in strengthening the internal monitoring mechanisms of corporate govern-ance in Taiwan. In addition this study examines failures of internal in-formation flow both in Taiwanese corporations adopting traditional company auditors while establishing independent directors, and in those with audit committees replacing company auditors. To prevent similar failures, this study makes three reform proposals: first, directly control-ling internal and external auditors by corporate monitors, including in-dependent directors, audit committees or company auditors; second, reinforcing whistle-blowing systems; and third, vesting the aforemen-tioned corporate monitors with access to assistance or advice from ex-ternal legal or other professionals. Overall, as risk management becomes a core issue for regulators internationally, we need to pay attention to how to fortify independent information channels for corporate moni-tors. In this way they can be more prepared to monitor the risks faced by corporations, thereby contributing to Taiwan’s progress in corporate governance.