of Frauds Whereas the audit committee, the independent directors and the executives of listed company play an important role in promoting good corporate governance, driving the improvement of financial

audit quality, training sessions on how to remedy the recurring deficiencies identified in several audit firms. Such efforts to develop audit 02 quality have evidently paid off with the improvement of the

. The SEC also encouraged audit firms to prepare for compliance with the International Standard on Quality Management 1 to drive the improvement of the quality control system of audit firms in the capital

firms demonstrated an improvement vis-à-vis the results from the previous inspection cycle. Such improvement was undoubtedly enabled by the formulation of audit firms’ root cause analysis process and

majority and sheer number of parties, governing could prove difficult. A large stimulus package is expected and large-scale projects are likely to go ahead. This should help boost the economy going forward

individual auditors’ engagement. The overall results of the inspection conducted on 13 audit firms in 2016 during the third cycle, which is between 2016 to 2018, indicated continuous improvement from the

capital market are complicated and finding the evidence is difficult, especially electronic evidence which requires assistance from specialized agencies. Therefore, this cooperation between SEC and the

temporarily. For private investments, that decreased from the same period of last year in all sectors from instability of the economy, except for ongoing projects of improvement, maintenance and automation

solutions ✓ Climate Adaptation solutions Copyright © 2022 by GMO LLC. All rights reserved. For Institutional Use Only | 20 INCORPORATING SUSTAINABILITY IN VALUATIONS Uncertain cash flows; difficult to

from the first inspection cycle (2010-2012) to 2019, the first year of the 4th inspection cycle (2019-2021), showed promising overall improvement despite the SEC’s more intensive inspection in several