To our Sharechlders
Market Analysis
Our Goals for 2002
Organization Chart
Independent Auditors' Report
The Board of Directors and Stockholders
International Bank of Taipei
ˇ@ˇ@We have audited the accompanying balance sheets of International Bank of Taipei as of December 31, 2001 and 2000, and the related statements of income, changes in stockholders' equity and cash flows for the years then ended. These financial statements are the responsibility of the Bank's management. Our responsibility is to express an opinion on these financial statements based on our audits.
ˇ@ˇ@We conducted our audits in accordance with regulations for auditing and certification of financial statements of financial institutions by certified accountants and auditing standards generally accepted in the Republic of China. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
ˇ@ˇ@In our opinion, the financial statements referred to aove present fairly, in all material respects, the financial position of International Bank of Taipei as of December 31, 2001 and 2000, and the results of its operations and its cash flows for the years then ended in conformity with guidelines for securities issuers' financial reporting and accounting principles generally accepted in the Republic of China.
January 21, 2002
Notice to Readers
ˇ@ˇ@The accompanying financial statements are intended only to present the financial position, results of operations and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to audit such financial statements are those generally accepted and applied in the Republic of China.
Supervisors' Report
To:The 2002 Shareholders' Meeting
ˇ@ˇ@In accordance with Article 219 of the Company Law, we have reviewed the 2001 financial statement of the Bank submitted by the Board or Directors and Subsequent audit report by our appointed Certified public Assountants, T N Soong ˇ®Co., and found hem correct.
March 22,2002