This chapter introduces the development of the accounting profession in Taiwan after World War II. It discusses the licence requirements for certified public accountants (CPAs), CPA firms and CPA associations in Taiwan. The chapter describes Taiwan's standards setting, including accounting standards, auditing standards, code of professional ethics and auditor independence rules. It presents auditor supervision and disciplinary mechanisms in Taiwan, including peer reviews, inspections by the competent authority of CPAs, auditor sanctions and legal liability. Practising CPAs in Taiwan are regulated by the government under the Certified Public Accountant Act of 1945. CPAs are liable to compensate for any damages incurred as a result of their misconduct or negligence in Taiwan. When CPAs audit the financial reports of private companies, they are liable under the CPA Act and the Taiwanese Civil Code. The chapter provides the CPA sanctions under the Taiwanese Securities Exchange Act.