Regulations on Disposal of the Financial Affairs of Social Associations Article 11

The board of directors of a social association shall, before an accounting year begins, compile an annual work plan and a budget sheet for revenues and expenditures, and within three (3) months after an accounting year terminates, compile a workreport and accounting reports of the previous year, submit them altogether to the member's (member representative's) congress for approval, and then report them to the regulating authority for reference. Where the member's (member representative's) congressis not held as scheduled, the plan and the form may be adopted first by the respective meetings of the board of directors and the board of supervisors or a joint meeting of the board of directors and supervisors of the association, and then submitted to themember's (member representative's) congress to subsequently admit, and reported to the regulating authority again for reference.Where the amount of final accounts referred to in the preceding paragraph is not less than NT$15,000,000, accountants may be employed to provide attestation.