Criteria for Requiring Publicly Listed Companies to Disclose Complete Financial Forecasts

According to Article 6 of the "Regulations Governing the Publication of Financial Forecasts of Public Companies," if a listed company releases specific revenue or profit forecasts to the media or at investor conferences without following prescribed formats, the competent authority may require the company to publish a "complete financial forecast." The Taiwan Stock Exchange has additional detailed criteria regarding specific forecast amounts, ranges, or growth rates to ensure investors have access to symmetrical and complete information for decision-making.

If a company fails to disclose a complete financial forecast when required, it may face fines from the competent authority under the Securities and Exchange Act and be ordered to rectify the situation. More seriously, a lack of transparency in information disclosure can severely damage market confidence, affect stock prices, and lead to investor lawsuits. From a corporate governance perspective, accurate financial forecasting and compliant disclosure are tangible proof of sound internal controls and accountability to shareholders and stakeholders, and a key risk management activity for maintaining corporate reputation.

This standard is directly related to **ISO 31000:2018 Risk management — Guidelines**, as accurate financial forecasting is a key activity for identifying and assessing market and operational risks. It is also closely linked to **ISO 37301:2021 Compliance management systems**, which requires organizations to establish effective systems to meet their legal obligations and avoid the legal and reputational risks arising from violating disclosure regulations. Failure to comply constitutes a serious compliance risk.

As Taiwan's first consulting firm to integrate ERM, industrial engineering, and technology law, Winners Consulting is led by a founder with a background in preventive law. Our interdisciplinary team includes lawyers, ISO lead auditors, and data scientists. We don't just help companies meet regulations; we vertically integrate financial forecasting processes with corporate governance, internal controls, and ISO systems to avoid redundant structures. Our experience serving top-tier clients like TSMC and MediaTek ensures your forecasting and disclosure processes are robust, compliant, and truly support decision-making.