Field notes
What Taiwanese lenders usually ask for in audited statements
When a Taiwanese mid-market company renews a facility, the credit officer’s checklist is narrower than most first-time auditees expect. The audited financial statements sit at the center, but the accompanying notes on related parties, contingencies, and subsequent events often decide whether the package moves forward without follow-up questions.
Covenant calculations should use the same definitions that appear in the facility agreement. If “EBITDA” in the loan schedule excludes certain non-cash items, the audit team needs that schedule before fieldwork so adjustments are agreed, not debated after the opinion date.
Provide the bank with the signed auditor’s report, the full set of statements, and a short management bridge explaining unusual movements. That bridge is not part of the audit opinion, yet it reduces the back-and-forth that delays drawdowns.
If inventory is material, expect the lender to ask whether a count was observed. Plan observation timing when warehouses close for the lunar new year holidays so attendance does not conflict with staff leave.