Implementation Rules of Internal Audit and Internal Control System of Financial Holding Companies and Banking Industries Article 47

When a banking business engages a CPA to conduct a special audit as provided in Paragraph 1 and 2 of Article 44, the business shall provide the CPA’s audit report of the previous year to the competent authority by the end of April each year for recordation. The assurance report shall at least entail the scope, basis, procedures, and results of the audit.When a credit cooperative conducts such audit in accordance with the preceding paragraph, the audit report shall be submitted through the finance department of the municipal government or the county (city) government.When the competent authority has queries concerning the contents of the assurance report, the CPA shall truthfully provide relevant information and explanation.