The 15th Plenary Meeting of International Forum of Independent Audit Regulators (IFIAR) and First IFIAR Enforcement Workshop in Taipei ended on 23 April and 24 April, respectively, having produced fruitful results.
140 representatives from 40 independent audit regulators joined the IFIAR Taipei plenary meeting, hosted by the Financial Supervisory Commission (FSC).The FSC Chairman, Mr. Ming-Chung Tseng, delivered welcoming remarks to the attending delegates from IFIAR members around the world. In his remarks, he expressed appreciation for the IFIAR’s efforts and contribution with regards promoting international cooperation among audit regulators. Mr. Tseng also emphasized that the FSC will continue actively participating in IFIAR activities and work closely with international counterparts to pursue audit quality enhancement.
During the meeting, the members elected the new IFIAR Chair and Vice-Chair. The IFIAR members discussed current audit policy development and topics including audit firm business strategy, including services offered and the impact of technology, governance and professional skepticism, competition and human resources, etc. As for the first Enforcement Workshop, the members exchanged views and experiences with respect to effective approaches for investigating and adjudicating alleged auditor misconduct.
During the 15th IFIAR plenary meeting and 1st Enforcement Workshop, international audit regulators and experts from international organizations shared practical audit regulatory experiences and discussed current audit trends. Awareness of the importance of audit quality was also raised through the discussions. In addition to communicating with attendees of IFIAR members, the FSC held several bilateral meetings with some members to strengthen bilateral ties and exchanged views on financial supervision with international organizations. This event held by the FSC brings Taiwan’s supervisory practices more closely in line with international norms as well as raises its international profile. Professional competence in audit oversight of the FSC is also highly recognized. The FSC will strive to keep Taiwan’s supervisory practices in line with international norms and strengthen ties with its peers. The FSC will continue to make every effort to improve audit quality and enhance investor protection, so as to build more robust capital markets.

Further details
For further information about this press release, please contact either:
- Mr. Alex Huang, Section Chief, Accounting and Auditing Supervision Division Securities and Futures Bureau (SFB), on +886-2-2774-7263 or
-By e‐mail to http://fscmail.fsc.gov.tw/FSC-SPS/SPSB/SPSB01002.aspx