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Article 12
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During formal review of financial reports, if the TWSE discovers that a financial report was not submitted pursuant to the regulations, an incomplete set of documents was filed, or the CPA produced an audit report not with an unqualified opinion or review report not with unqualified conclusions, affecting the fair presentation of the financial report to the extent that a restatement is required, or that the company's internal control system has significant deficiencies; or if, during the formal examination of a financial forecast, it is found that incomplete information was submitted or incomplete information was publicly released, or the date of public disclosure and filing or the date of preparation exceeded the deadline, or the CPA produced an assurance report with a modified conclusion, the TWSE shall formulate a concrete method of handling or suggestions for handling the matter for inclusion in its related report to the competent authority.
After reviewing a financial report, the TWSE shall explicitly express a review conclusion and an opinion on a concrete method of handling. If deficiencies or omissions are found, the TWSE shall request the company to rectify and, in the event of any irregular case with material deficiencies or omissions which requiresthe TWSEto handle the matter pursuant to the Securities and Exchange Act or to request the assistance of relevant agencies, the TWSE shall attach its review report with the given case, formulate an opinion on its handling, and report to the competent authority, or request that the competent authority transfer the case to the specific competent authority for the target industry for further investigation and handling.
If common deficiencies are found during the review of financial reports, the TWSE may issue a letter to the company as a reference for improvement and forward a copy to the competent authority.
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