Home >> News & Publications >> Newsletter

Newsletter

搜尋

  • 年度搜尋：
  • 專業領域：
  • 時間區間：
    ~
  • 關鍵字：

New Rules Requiring Companies to Have Audit Committee

Julia Kuei-Fang Yung

According to the directive (Ref. No. 10200531121) issued by the Financial Supervisory Commission on December 31, 2013, each of the following companies shall have an audit committee in lieu of its supervisors: (1) upon issuance of this directive, financial holding companies, banks, bills finance companies, insurance companies, securities investment trust enterprises, integrated securities firms, and futures commission merchants listed on the Taiwan Stock Exchange (TWSE) or traded Over-The-Counter (OTC),  that have issued stocks in accordance with the Securities and Exchange Act as well as those TWSE/OTC listed non-financial enterprises with a paid-in capital of NT$10 billion or more; and (2) starting from 1 January 2017, those TWSE/OTC listed non-financial enterprises with a paid-in capital of NT$2 billion or more but less than NT$10 billion; provided, however, that for any of the aforementioned financial institutions that is wholly owned by a financial holding company, it may opt to have either an audit committee or supervisors.  Please note:

 
1.  For any of the following companies as mentioned in (1) above, the requirement does not apply until the term of its incumbent directors or supervisors expires; provided, however, that if the term of its incumbent directors and supervisors will expire in 2014, such requirement will not apply until the term of its new directors and supervisors to be elected in 2014 expires: securities investment trust enterprises, integrated securities firms that are not the subsidiaries of TWSE/OTC listed companies or financial holding companies, TWSE/OTC listed futures commission merchants, and those TWSE/OTC listed non-financial enterprises companies with a paid-in capital of NT$10 billion or more but less than NT$50 billion.
 
2.  For any of the companies as mentioned in (2) above, if the term of its directors and supervisors will not expire in 2017, the requirement will not apply until the term of such directors and supervisors expires.
回上一頁