Democratic Progressive Party Legislator Tien Chiu-chin (
The two accounting companies are the Taiwan branch of Ernst & Young (
The government must review and restructure the financial system to restore the public's confidence, Tien told a press conference.
PHOTO: WALLY SANTANA, AP
The accounting companies involved must be held responsible for failing in their responsibilities, she added.
Tien said that to comply with the Securities and Exchange Law (
She urged the FSC to propose bills modeled on the US' Sarbanes-Oxley Act, also known as the Public Company Accounting Reform and Investor Protection Act of 2002 -- which was proposed after a series of scandals involving a number of US firms including Enron Corp, which applied for bankruptcy in 2001.
At the end of 2001, it was revealed that Enron's financial problems had been intentionally masked by accounting fraud. Several top Enron executive officers walked away from the company's collapse with about US$1 billion.
The bill, proposed by US Senator Paul Sarbanes and Representative Michael Oxley, allowed the US government to establish the Public Company Accounting Oversight Board to supervise listed companies.
The bill also ensures that companies disclose their financial reports and sets restrictions on the behavior of top company executive officers.
Chang Shu-hui (張淑惠), a section chief of the Securities and Futures Bureau under the FSC, said the bureau had resolved on Tuesday to revoke the qualifications of two accountants who endorsed the books of Rebar Group firms.
Yangmingshan National Park authorities yesterday urged visitors to respect public spaces and obey the law after a couple was caught on a camera livestream having sex at the park’s Qingtiangang (擎天崗) earlier in the day. The Shilin Police Precinct in Taipei said it has identified a suspect and his vehicle registration number, and would summon him for questioning. The case would be handled in accordance with public indecency charges, it added. The couple entered the park at about 11pm on Thursday and began fooling around by 1am yesterday, the police said, adding that the two were unaware of the park’s all-day live
Yangmingshan National Park’s Qingtiangang (擎天崗) nature area has gone viral after a park livestream camera observed a couple in the throes of intimate congress, which was broadcast live on YouTube, drawing large late-night crowds and sparking a backlash over noise, bright lights and disruption to wildlife habitat. The area’s livestream footage appeared to show a couple engaging in sexual activity on a picnic table in the park on Friday last week, with the uncensored footage streamed publicly online. The footage quickly spread across social media, prompting a tide of visitors to travel to the site to “check in” and recreate the
Minister of Digital Affairs Lin Yi-ching (林宜敬) yesterday cited regulatory issues and national security concerns as an expert said that Taiwan is among the few Asian regions without Starlink. Lin made the remarks on Facebook after funP Innovation Group chief executive officer Nathan Chiu (邱繼弘) on Friday said Taiwan and four other countries in Asia — China, North Korea, Afghanistan and Syria — have no access to Starlink. Starlink has become available in 166 countries worldwide, including Ukraine, Malaysia, the Philippines and Vietnam, in the six years since it became commercial, he said. While China and North Korea block Starlink, Syria is not
The Grand Hotel Taipei has rejected media reports claiming that the hotel had prevented CBS from broadcasting coverage of the Beijing summit between U.S. President Donald Trump and Chinese President Xi Jinping (習近平) on its premises. Media reports alleging that the hotel owner, dissatisfied with CBS’s coverage, prohibited the network from broadcasting political content on the hotel premises, are not true, the hotel said in a statement issued last night. The reports were “inconsistent with how the hotel actually handled the matter,” it said. The hotel said it received a refund request from a
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