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According to a letter issued by the Taiwan Accounting Research and Development Foundation, starting from 28 December 2011, no CPA report should be issued for the financial statements of a company before the board of the company has reviewed those financial reports.
Accordingly, as far as a single-shareholder company is concerned, its board should review the financial statements prepared by the management before the financial statements are submitted to a CPA for audit and the company's supervisor(s) for examination. After that, the company should convene another board meeting to accept the financial statements audited by the CPA and examined by the supervisor(s).
