| 2009.01.06 |
Article 7 of the “Regulations Governing the Implementation of Internal Control and Audit Systems by Trust Enterprises”
[Chinese]
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Article 7 of the
“Regulations Governing the Implementation of Internal Control and Audit Systems by Trust Enterprises”
Article 7 A trust company shall realistically establish an internal control system. The general manager shall join the auditor general in carefully assessing the operational status of the internal control system, and shall issue a statement after conducting a self-assessment of compliance with applicable laws and regulations and the principles of sound operations, and submit the same to the Ministry of Finance (MOF) for recordation at the end of each business year, together with the business reports and the financial reports required by Article 39 of the Act.
When carrying out internal audits, an audit unit shall assess the internal control system and its operational status and make records.
Paragraph 1 does not apply to a trust company which is taken over by the competent authority pursuant to laws.