Implementation Rules for the Internal Audit and Internal Control System of Specialized Electronic Payment Institutions Article 39

The internal auditors and chief compliance officer of a specialized electronic payment institution shall immediately prepare a report for submission, with a notice to the independent directors and supervisors or audit committee, and report to the competent authority when their recommendations for improvements regarding significant deficiencies or noncompliance identified in internal controls are not accepted by management, which will cause the specialized electronic payment institution to incur material losses.