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Article 11
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When necessary during the substantive review of financial reports or financial forecasts, a CPA shall be hired to provide opinions and the CPA's working papers may be requisitioned. When a company is listed as requiring a review pursuant to Article 9, paragraph 2, subparagraph 2, item E, the CPA's working papers shall be requisitioned, in order to ascertain whether the certifying CPA audited or reviewed the company pursuant to the Regulations Governing Auditing and Certification of Financial Statements by Certified Public Accountants and in accordance with generally accepted auditing principles or relevant Statements of Auditing Standards.
If, during a substantive review of a TWSE primary listed company's or a TIB primary listed company’s financial report regarding major accounts or changes in financial ratios, or substantive review of its material information published during the preceding year, any material irregularity is found in its financial information or material information, the TWSE may require that the company or its CPA, lead underwriter, agent for litigious and non-litigious matters in Taiwan, or independent directors to give explanatory information on specified matters, and in consideration of circumstances, may require the company to submit a report with related explanations through the TWSE-designated information reporting website. When necessary, the TWSE may require the company to hold an informational press conference.
If the review shows that the CPA is in non-compliance with the provisions of paragraph 1, the TWSE may request the CPA in writing to pay attention and take action and may submit the factual evidence relevant to the given case to the competent authority for further disciplinary actions pursuant to the CPA Act, Securities and Exchange Act, or other relevant regulations.
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