Following the trend of anti-money laundering worldwide, the recent Taiwan Company Act amendment bill provides that a company must file the register of directors, supervisors, officers, and shareholders that hold more than 10% of shares or capital to the central register maintained by the competent authority. This so-call “beneficial owner” provision in fact does not meet the global standard for AML purposes and may cause more concerns for transparency. In addition, the bill proposes to adopt multiple criteria for mandatory auditing to replace the current single criteria. While the multiple criteria is desirable and the bill however does not cope with the enforcement issues. This paper aims to analyze the issues regarding the beneficial owner provision and the mandatory auditing and provides suggestions for amendments.