1.Background for Promotion

(Background) High accounting transparency is essential for revitalizing the capital market, as accounting and external audit systems protect shareholder value and channel public funds into a productive capital market.

(Necessity of Government Intervention) It is necessary to comprehensively improve the compliance requirements and evaluation standards for accounting firms, focusing on audit quality, to strengthen accounting transparency and ensure investor trust in corporate disclosures.

2. Regulatory Contents

(Audit Quality Enhancement) Improved the auditor scoring system to encourage accounting firms to enhance their overall audit quality.\

(Strengthened Requirements and Oversight) Strengthened the external audit experience requirements for CEOs of accounting firms and mandated the establishment and operation of an Audit Quality Oversight Committee, which includes external experts, to ensure audit quality-centric decision-making.