Regulations of the Operation and Management of National Defense Technology Institutions by Private Entities Article 25

Paragraph (1)The Private Entity(ies) shall submit the financial statements, certified by certified public accountants, with respect to the commissioned operation, to the authority-in-charge prior to January 31 and July 31 of each year for record.Paragraph (2)The authority-in-charge may retain certified public accountants to conduct the audit at the premises of the institutions commissioned for operation or the property and facilities. The Private Entity(ies) shall be responsible for the fees incurred from the audit by the certified public accountants retained by the authority-in-charge in the event that the falsity of the financial statements submitted by the private entity(ies) has been confirmed. In the event that the rights of the authority-in-charge have been infringed, the authority-in-charge shall act in accordance with the provisions relating to breach.