Chapter III Business and Supervision
Article 20
The scope of supervision carried out by the supervisory authority shall be the following matters:
1. Approving the development goals and plans;
2. Approving or filing for reference the Institute’s Charter, annual work plan and budget, annual achievements report, and final accounts report;
3. Examining the Institute ’s property and finances;
4. Evaluating reports on operating performance;
5. Appointing and recommending Directors and Supervisors;
6. Meting out punishment to Directors and Supervisors who have infringed upon relevant regulations;
7. Dismissing, changing, abolishing, requiring improvements to be made, halting the execution of duties, and otherwise meting out punishment where the Constitution, laws, and regulations are breached by the Institute;
8. Approving the disposal and set burden of the real assets of the Institute;
9. Other supervisory duties in accordance w ith the law.
Article 21
The supervisory authority shall evaluate the following:
1. The Institute ’s annual achievements;
2. An assessment of operating performance and goal achievement rate of the Institute;
3. An assessment of the success (percentage collected) o f fundraising campaigns;
4. Recommendations on budget allocation; and
5. Other related matters.
The supervisory authority shall determine regulations governing the method and procedure of the evaluation and related matters.
Article 22
The Institute ’s development goals and plan shall be approved by the supervisory authority after being approved of by the Board of Directors.
The annual work plan and budget shall be sent to the supervisory authority after being adopted by the Board of Directors.
Article 23
Within three months of the end of the Institute ’s accounting year, the Institute shall present its annual achievements report and final account report to an accountant for certification. These documents are then to be reviewed by the Board of Directors. After being approved by the Board of Supervisors, they are to be sent to the supervisory authority as well as the auditing authority.
The final account report is to be audited by the auditing authority. After this audit, the report is to be sent to the supervisory authority or other related agency for any necessary action.