CPA in Taiwan refers to the persons who work as certified public accountants. In order to be able to work as a CPA, it is legally required to participate in an examination and, if the person will pass the respective examination, then the certified institutions will provide the right to practice.
Persons working as accountants provide their services to a wide range of clients that can be companies, public institutions, natural persons and others. The activity of accountants in Taiwan is necessary for local companies, as all the accounting operations have to be completed by persons who have been authorized to provide accounting services. Thus, if you want to open a company in Taiwan, you will need the services of local accountants. For more details, we invite you to address to our team of consultants in company registration in Taiwan.
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What is the law regulating CPA in Taiwan?
The legislation which regulates the activity of this branch of accountants in Taiwan is given by the Certified Public Accountant Act. Please mind that a CPA is entitled to provide his or her services to entities established as public ones, including to public companies. Thus, if you want to open a company in Taiwan as a public company, you will CPA services. With regards to the law, we present the following:
- Article 3 of the law stipulates that the main entity which regulates the activity of a CPA in Taiwan is the Financial Supervision Commission;
- Article 5 mentions that the right to activate as a CPA is limited to those who have obtained a CPA certificate;
- Article 8 established that a CPA in Taiwan is entitled to provide his or her accountancy services at a national level;
- Chapter 2 – Practice Registration – Article 12, stipulates that one can apply for registration as a CPA only after gaining 2 years of experience in a CPA firm;
- Article 20 gives the right to a person practicing CPA to establish his or her own CPA company, working as a single-person entity.
What types of activities can a CPA in Taiwan develop?
If you want to set up a company in Taiwan and you will need the services of a CPA, you must know that this specialist can provide a wide range of accounting services. There can be differences between the accounting services provided by accountants in Taiwan and CPAs, prescribed under the national law.
A CPA in Taiwan is entitled to perform the following: attest financial reports of companies, services related to accounting system management, tax consultancy, asset valuation, liquidation of companies or audit. They are also entitled to work as bankruptcy administrators, reorganization managers and supervisors, inspectors or will executors, services that can also be offered by our team of specialists in company formation in Taiwan.
What types of registration services can a CPA in Taiwan offer?
Besides these, the person working as a CPA is entitled to represent companies in the process of trademark registration. If you want to open a company in Taiwan, you can easily address to local CPAs, who can also provide a set of accounting services following the rules of the Code of Administrative Litigation Procedure.
Unlike accountants in Taiwan, the CPA can offer a more complex set of services, including the ones related to the registration of various entities. For instance, they can provide services for company formation in Taiwan, as they are legally entitled to assist in the procedure of business registration. The CPA is also allowed to provide registration services for those who want to incorporate non-profit organizations and other types of associations.
What are the obligations of persons working as CPA?
Any person developing accounting activities in Taiwan has a set of obligations that must be respected, in accordance with the Code of Ethics of this profession. According to the CPA Associations of Republic of China (Taiwan), a CPA must comply with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China. The document was last amended in July 2009.
Thus, persons who want to open a company in Taiwan that will need the services of a CPA can rely on the fact that the person will comply with the following basic principles: integrity, objectivity, professional competence, due care, confidentiality and professional behavior.
There are other obligations that must be respected by CPAs, for instance, it is required to handle a case only in the situation in which the CPA has competence over the respective field, which can be proven by the person’s activity or diplomas. For more details, we invite you to contact our team of specialists in Taiwan company formation, who can offer further information on other matters related to the accounting law and procedures.