Implementation Rules for the Internal Audit and Internal Control System of Specialized Electronic Payment Institutions Article 12

When the chief auditor of a specialized electronic payment institution has any of the following situations, the competent authority may, in view of the severity of the situation, issue an official reprimand, order remedial action within a specified time limit, or order the specialized electronic payment institution to release the chief auditor from duty:1. Abusing power of office with factual evidence showing that he/she has engaged in improper activities, or acting contrary to his or her duties in an attempt to seek illicit profits for him/herself or for a third party, or to damage the interests of the employer, which results in damages to the employer or its subsidiary or a third party.2. Disclosing, delivering, or publicizing all or part of the examination reports to a person unrelated to such job without the consent of the competent authority.3. Failing to notify the competent authority of any material malpractice or fraud at the employer due to internal mismanagement.4. Failing to disclose in the internal audit report any material deficiency found in the financial or business operations of the employer.5. Issuing a fraudulent internal audit report after performing the internal audit work.6. Failing to identify a material deficiency in the financial or business operations of the employer as a result of obviously insufficient or incompetent staffing of the internal audit unit.7. Failing to follow the instructions of the competent authority in conducting audit work or providing relevant information.8. Having committed other acts that impair the reputation or interests of the employer.