After approving Taiwan’s CPA supervisory system as equivalent to EU supervisory regulations in June 2013, in order to bring about closer audit supervisory cooperation the EU formally decided that the FSC’s audit supervision information confidentially regulatory framework and execution meet the requirements of related EU directives and are adequate on June 21, 2016, after further examining the confidential information handling capability of various countries.

Since the EU recognized that Taiwan’s overall CPA management system meets EU standards, the completeness of information confidentiality regulations has now been recognized, and all the requirements for audit supervisory cooperation between Taiwan and the EU have been met. On this basis, related supervisory cooperation can be carried out with EU countries, and it will help unify quality of CPA firms worldwide. Besides, Taiwan’ CPAs can assist their clients go overseas to raise funds not having to register with and be supervised by EU countries.