Implementation Rules for the Internal Audit and Internal Control System of Specialized Electronic Payment Institutions Article 13

A specialized electronic payment institution shall be staffed with an appropriate number of competent full-time internal auditors in accordance with the number of users and contracted institutions, business volume, business conditions, management needs, and the requirements of other relevant laws and regulations, who shall perform their duties in an objective detached independent, objective and impartial objective manner. Personnel of the internal audit unit shall be deputy to each other to cover each other's absence.The internal auditors of a specialized electronic payment institution shall meet the following qualification requirements:1. Having not less than two years of experience in financial examination; or having graduated from a college or university, or passed a senior civil service examination or an equivalent examination, or the examination of certified internal auditor and having not less than two years of experience in financial business; or having not less than five years of experience in financial business. A specialized electronic payment institution must be staffed with at least one qualified internal auditor who meets the aforementioned qualifications. A person is deemed to meet such requirements if he or she has worked as a professional, such as an auditor or an auditor in an accounting firm, or a programmer or system analyst in a computer company for not less than two years, and has received not less than three months of training in the business operations and management of a specialized electronic payment institution.2. Free of any record of demerit or more serious disposition from employer in the last three years, unless the demerit record was a result of joint and several disciplinary action on account of the violation or offense of another person, and the demerit has been offset by other merits; and3. Internal auditor who acts as a team leader shall have not less than three years of experience in auditing or financial examination, or have not less than one year of experience in auditing and not less than five years of experience in financial business, or have not less than one year of experience in auditing and have worked as an auditor for an accounting firm for at least three years.A specialized electronic payment institution shall check at any time whether its internal auditors have violated the provisions in the preceding two paragraphs. If an auditor is found to violate the provisions, the institution shall order the auditor to take remedial action within two months from the date of discovery and shall immediately reassign the auditor to another job if he or she fails to complete the remedial action within the specified time period.