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Chapter Law Content

Title: Implementation Rules for Bank Internal Audit and Internal Control System CH
Category: Financial Supervisory Commission(行政院金融監督管理委員會)
Attachment:
Chapter 1. General Provisions.
Article 1
These Rules are enacted pursuant to Paragraph 1, Article 45-1 of the Banking Act of The Republic of China.
Article 2
A bank shall establish internal control and audit systems and ensure the continuing and effective implementation of such systems to promote the sound development of the bank and uphold financial stability.
Article 3
The basic purpose of internal controls is to promote the sound operations of a bank. The board of directors, supervisors and all employees of the bank shall comply with such internal controls to ensure the attainment of following objectives:
1. Operational performance and efficiency.
2. Reliability of financial reporting.
3. Compliance with relevant laws and regulations.
The objective of “operational performance and efficiency” depicted in subparagraph 1 of the preceding paragraph pertains to profit, business performance and assurance of asset security.