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Chapter Law Content

Chapter 4 Administrative Management
Article 51
Unless otherwise prescribed by paragraphs 2 and 3, an operator shall file its Accounting Procedure Manual with the review report of a certified public accountant for the DGT's reference before its operations. The same process shall apply to manual revision.
A market dominator shall file its Accounting Procedure Manual with the review report of a certified public accountant for the DGT's approval. The manual will come into force after approved. The same process shall apply to manual revision.
After the revision of this Code comes into effect, a market dominator shall revise its Procedure Manual and file its Procedure Manual to the DGT within four months from the date that it is designated by the MOTC as a market dominator. The market dominator shall revise all required financial reports according to its Procedure Manual approved by the DGT in the same fiscal year.
When changes in the operations make the steps in Procedure Manual obsolete in meeting the requirements of this Code, the Operator shall make changes to its accounting systems and Procedure Manual. Before the execution, the Operator shall file those changes to its Procedure Manual with the DGT for an approval.
The DGT may request an Operator to change the Operator's Procedure Manual when necessary.
The Procedure Manual shall record and illustrate the detailed steps that an Operator has adopted to implement the requirements of this Code.
Article 52
Detailed guidelines on the content, format, frequency, timing, and audit requirements of financial reports submitted to the DGT are prescribed separately in a supplement to this Code by the DGT.
Article 53
An audit report from a certified public accountant is required for certain financial reports submitted to DGT. An Operator shall be responsible for arranging the independent audit and ensuring its completion. If the DGT is not satisfied with the audit work that will be or has been conducted, the DGT may appoint another certified public accountant to carry out the audit.
The guidelines for performing the audit are prescribed separately in a supplement to this code by the DGT.
Article 54
Tripartite meetings between the Operator, the appointed certified public accountant and the DGT are to be held at the request of the DGT to discuss the audit work. The DGT may request the certified public accountant to make the audit working paper available for the DGT's review, or to provide additional explanations regarding the audit work.
Article 55
The DGT may request an Operator to provide supporting documents, and additional financial and operational data that are relevant to the Operator's financial reports submitted to the DGT. The Operator cannot refuse the request without justified reason.
Article 56
An Operator shall make available supporting documents for at least five years since the final statements process terminates. An Operator shall make available financial reports and related operational data for at least ten years. The above limitation does not apply to the documents of permanent records and of unresolved accounting issues.