FENC’s Group Auditing Department obtained the approval of a patent titled “The Audit Approach” on January 21, 2023. The patent approval set a precedent in Taiwan. The Audit Approach is applied towards the detection of anomalies in the procurement cycle during internal control. It consolidates the big data dashboard, RPA and machine learning within the auditing operation of Far Eastern Group (FEG) to improve auditing efficiency and reduce costs while adding transparency in FENC’s sustainability endeavors.

Sustainable development is paramount to FEG, which ensures corporate ESG performance, credibility to stakeholders and ethical practices through a transparent and just audit mechanism. The patent approval strengthens the collaborative bond and communication between FEG and its stakeholders. It also improves internal audit and control by helping the audit staff identify issues and risks with higher precision and reliability. The optimization of risk assessment approaches and control procedures would reduce failures and protect FEG’s interests and assets.

It is firmly believed that the continual optimization of management and operation procedures will lead the way to sustained corporate development. This patent is a token of the Company’s commitment to excellence in technological development and management. It is also a testament to its dedication and action towards sustainable development, which will propel the Company to be an innovative and competitive corporation.