Pursuant to the Banking Act, the operation of JCIC is authorized and supervised by the Financial Supervisory Commission (FSC) under the Executive Yuan and the Banking Bureau of the FSC. The JCIC has a Board of Directors composed of nine members and, in addition, three supervisors. The directors and supervisors are either representatives or experts appointed by the FSC, the Central Bank of the Republic of China (Taiwan) (CBC), and the Bankers Association of the Republic of China. Apart from the chairman of the Board of Directors who oversees JCIC business, none of the eight other directors holds any management position at JCIC and they function independently. To supervise the business operations and corporate governance, an Internal Audit Office that reports directly to the Board of Directors handles the internal audit operations.