47. Do political parties have to report regularly on their finances? - Taiwan

Country: 
Taiwan
Question: 
47. Do political parties have to report regularly on their finances?
Answer: 
Yes
Comments: 

Article 21: Political parties should submit their annual property and financial statements to the competent authority before May 31 each year. The annual property and financial statements shall contain the following documents: 1. Final accounts 2. A Profit and Loss account 3. A balance sheet 4. An inventory of property The property and financial statements described in Paragraph 1 shall be signed or stamped by the party leader, audited and certified by a certified public accountant commissioned by the political party, and passed by the party’s representative assembly or party congress. If no representative assembly or party congress is held in the current year, this fact shall be noted in the statements and the statements shall be assessed during the party’s representative assembly or party congress held in the following year. The competent authority shall compile the property and financial statements described in Paragraph 1 within forty-five (45) days after the submission deadline and subsequently publicize the information in government gazettes and newsletters, and online. The competent authority shall notify political parties that fail to submit property and financial statements pursuant to Paragraphs 1–3 to do so within a prescribed period of time; the competent authority shall notify political parties to revise submitted statements that do not meet requirements. The competent authority may make public declarations in government gazettes, government newsletters, or online regarding political parties that fail to submit statements, make required revisions to statements, or comply with regulations even after revisions are made, if deemed necessary.

Source: 

Political Parties Act 2017