to adopt the IFRSs. Leading the implementation of this plan is the President, Mr. Chang. The main contents of the plan,  anticipated schedule and status of execution as of December 31, 2011 were as follows: PART III F-60 Contents of Plan Responsible Department Status of Execution 1)  Evaluation Phase: August 1 2009 - March 31, 2010 ●  Make IFRSs adoption plan and set up a IFRSs project team Accounting department Completed ●  Compare and analyze the differences between current  accounting policies and IFRSs Accounting department Completed ●  Evaluate the modification of current accounting policies for  IFRSs adoption Accounting department Completed ●  Evaluate the adoption of IFRS 1, “First-time Adoption of  International Financial Reporting Standards” Accounting department Completed ●  Conduct the first stage of internal employee training Accounting department Completed 2)  Preparation Phase: April 1, 2010 - December 31, 2011 ●  Determine accounting policies in accordance with IFRSs Accounting department Completed ●  Choose the optional exemptions under IFRS 1, “First-time  Adoption of International Financial Reporting Standards” Accounting department Completed ●  Modify related information system Information technology department Completed ●  Amend internal control and related policies Accounting department, related  departments Completed ●  Conduct the second stage of internal employee training Accounting department Completed 3)  Application Phase: January 1, 2012 - December 31, 2013 ●  Prepare opening IFRSs balance sheet and comparatives  financial statements Accounting department In progress ●  Prepare financial statements in accordance with IFRSs Accounting department In progress