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Article 4
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After listing on the TWSE, a primary listed company shall publish its financial reports on the information reporting website designated by the TWSE and additionally submit the hardcopy versions for meeting the regulatory filing requirement, and the financial reports thus published and filed shall conform to the following:
- The financial reports shall be prepared in accordance with the generally accepted accounting principles in Taiwan or the United States or in accordance with the international accounting standards, using the New Taiwan Dollar (NTD) as the reporting currency. If the financial reports are prepared under Taiwan's accounting principles, the Regulations Governing the Preparation of Financial Reports by Securities Issuers shall be complied with, but Article 24 thereof need not be applied.
- The financial reports shall be prepared using period-to-period comparison and shall comprise the four major financial statements (namely, the consolidated balance sheet, consolidated income statement, consolidated cash flow statement, and consolidated statement of changes in shareholders' equity) and the accompanying notes, except that in the case of a quarterly consolidated financial report the consolidated statement of changes in shareholders' equity is not required to be included. The accompanying notes included in financial reports shall include an indication of the specific accounting principles used, and, if the financial reports are not prepared under the financial reporting standards of Taiwan, a disclosure shall be made of any differences between the period-to-period balance sheet, income statement accounts, and the accompanying notes presented under such other financial reporting standards and those presented under Taiwan's financial reporting standards, specifying in particular any line-item that involves a difference and the amount affected. If the financial reports are prepared under Taiwan's accounting principles, the information on the items of loans to others and of endorsements or guarantees made to others presented in the accompanying notes shall be separately disclosed and may not be expressed as a net amount on a consolidated basis.
- An annual financial report shall be published and filed within 3 months following the end of each business year, accompanied by an audit report issued by two domestic CPAs of an accounting firm approved by the competent authority to certify and attest to the financial reports of public companies; a semi-annual financial report shall be published and filed within 75 days following the end of each business half-year, accompanied also by an audit report issued by two domestic CPAs of an accounting firm approved by the competent authority to certify and attest to the financial reports of public companies; and a first or third quarter financial report, as the case may be, shall be published and filed within 45 days following the end of each first or third quarter of the business year, for which no CPA audit or review is required.
- The financial reports published and filed pursuant to regulatory requirements shall all bear the signature or seal of the chairperson and managerial and accounting officers, who shall also issue a statement that the financial reports contain no misrepresentations or nondisclosures.
In the case of shares having no par value or a par value other than NT$10, where the calculation of 5 percent of paid-in capital is applicable under Article 6 of the Regulations Governing the Preparation of Financial Reports by Securities Issuers, 2.5 percent of shareholders’ equity shall be substituted; for the calculation of 20 percent of paid-in capital under Article 17 thereof, 10 percent of shareholders’ equity shall be substituted.
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Article 13
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A primary listed company shall continuously engage a lead underwriter in the listing year and in the following 2 fiscal years to assist with ensuring compliance with Taiwan's securities laws and regulations, TWSE rules, regulations, and public announcements, and the Listing Agreement; however, if the application for primary listing was made pursuant to regulations governing technology enterprises, the company shall continuously engage the lead underwriter for a period of not less than 3 fiscal years. After the end of the time period, the primary listed company may engage the same lead underwriter or any other securities firm qualified under Article 28-2 of the TWSE Rules Governing Review of Securities Listings or other qualified professional institution for fulfilling its continuing compliance obligations.
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