Chapter 3 Inspection of Internal Control System
Section 2 Self-inspection and Statement on Internal Control
A specialized electronic payment institution shall establish a self-inspection system. Its business, finance, asset safekeeping and information units shall conduct a routine self-inspection and a special self-inspection at least semi-annually.
For the self-inspection mentioned in the preceding paragraph, the head of the unit shall assign a person other than the original handling staff to conduct the inspection and keep the inspection activity confidential before implementation.
The self-inspection report under Paragraph 1 hereof shall include working papers, and along with the relevant information shall be retained for at least five years for future reference.
The internal audit unit of a specialized electronic payment institution shall continually conduct follow-up reviews on the examination opinions or audit deficiencies brought up by the financial examination authority, accountants, or the internal audit unit (including the internal audit unit of parent company), or in self-inspection conducted by internal units, and on matters requiring improvements as specified in the statement on internal control. It shall submit a written report on the follow-up of improvement actions taken to the board of directors, and deliver a copy of the report to the supervisors or audit committee, which shall be used as an important reference in reward, punishment, and performance evaluation of respective units.
The president of a specialized electronic payment institution shall supervise all units to carefully assess and review the implementation status of its internal control system. The chairman, president, chief auditor, and chief compliance officer shall jointly issue a statement on internal control (see attached), which shall be submitted to the board of directors for approval. The specialized electronic payment institution shall disclose its statement on internal control on its website and publish it on a website designated by the competent authority within three months after the end of each fiscal year.