The National Equities Exchange and Quotations Co., Ltd. ("NEEQ") has recently issued the Questions and Answers on Information Disclosure and Accounting Business for Listed Companies (IV) – Performance Preannouncement, Express Performance Report, and Regular Rotation of Certified Public Accountants with Signing Authority (the "Q&A (IV)"), immediately effective from the issue date.
The Q&A (IV) provides clarity on five questions, including "how to put into place the system for regular rotation of certified public accountants with signing authority of listed companies at the innovation hierarchy", "how to specify the rotation intervals at which certified public accountants with signing authority of listed companies at the innovation hierarchy" and "how to deliver the performance preannouncement and the express performance report, if both are involved". As to the first question mentioned above, the Q&A (IV) clarifies that the regular rotation of certified public accountants with signing authority of listed companies at the innovation hierarchy shall comply with requirements in six respects, one of which reads as "a certified public accountant who offers audit service to a company that applies for listing on the NEEQ may provide consecutive audit service for up to three entire fiscal years, after the companies has been successfully listed", subject to the Provisions on the Regular Rotation of Certified Public Accountants with Signing Authority for the Audit of Securities and Futures Business.