In order to strengthen the communication with financial holding companies and improve the effectiveness of internal audit mechanisms, the FSC held a colloquium for chief internal auditors of 16 financial holding companies on Sep. 20, 2019.

The session topics included the primary examination findings of corporate governance, the results of internal audit quality assessment and its main deficiencies, the introduction of a draft Whistleblower Protection Act as well as the shared experiences on how to audit and track improvement of deficiencies, presented by Yuanta Financial Holding Co.

During the meeting, the FSC exchanged a wide range of opinions on topics, including recent supervisory issues and critical audit matters with all participants. With two-way communication, it allowed financial institutions to gain a better understanding about the supervisory concerns and the examination focuses.