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In response to COVID-19, the FSC has adopted regulatory relief measures regarding financial reporting by companies listed on the TWSE or the TPEx

In response to COVID-19, for auditors who are not able to review documents or count inventory due to travel restrictions, or who are unable to perform confirmation due to uncertainty of clients'' return to work, the FSC has informed auditors of public companies to consider possible alternative audit procedures in the auditing of 2019 annual financial reports. Auditors should design and perform alternative audit procedures based on clients'' situation and the results of risk assessments, and issue appropriate audit reports accordingly.
In addition, if public companies are unable to file 2019 annual financial reports on time, they must obtain the board''s permission to apply for an extension, propose an action plan (with CPA''s opinion on its appropriateness), and file unaudited 2019 financial statements. The applicants shall apply for extension to the FSC by 28th April, 2020.
Visitor: 631   Update: 2020-05-05