TSMC advocates and acts upon the principles of operational transparency and respect for shareholder rights. We believe that the basis for successful corporate governance is a sound and effective Board of Directors. In line with this principle, TSMC's Board of Directors established an Audit Committee in 2002 and a Compensation Committee in 2003.
TSMC's corporate governance won international recognition in 2011: Corporate Governance Asia honored TSMC with its "1st Asian Excellence Recognition Awards 2011" and "Corporate Governance Asia Recognition Awards 2011". IR Global Rankings honored TSMC with its "Best Corporate Governance in Greater China" and "Best Corporate Governance in Asia-Pacific". Commonwealth Magazine honored TSMC with its "Best Corporate Citizenship" and "Most Admired Company in Taiwan".
