possible limit of individual freedom, regulation is essential to uphold market credibility and orderliness. Yet, the regulator’s exercising of power must be prudent, fair and only as necessary to protect the
of directors but not less than three persons. The audit committee consists of at least three persons and at least one person must have adequate knowledge to review the reliability of financial
SEC’s specified rules. The members of an Audit Committee shall not be authorized directors or have controlling power over the company and at least one member shall have sufficient knowledge and
companies; Ensuring fair treatment to shareholders of a takeover target company; Enforcing cases of corporate fraud; Supervising business operators to take care of investors with fair and reliability
resembles the international supervisory framework. The audit quality control regulatory shall be performed at both individual auditor level and firm level. In order to enhance quality and reliability of the
related associations The SEC has the power to make an order for the directors or members to clarify about facts of the associations. The SEC or the officers are empowered to enter the association during the
(CMSB) has the power and duty under the Securities and Exchange Act that include issuance of rules and regulations governing the securities industry and reporting to the SEC Board. The CMSB comprises