. When done right, they can improve the welfare of market participants. In permissionless DeFi where identity is not required and financial history less informative, regulation is more challenging. Kanis

Report on the Observance of Standards and Codes (ROSC) CORPORATE GOVERNANCE COUNTRY ASSESSMENT Thailand JANUARY 2013 Report on the Observance of Standards and Codes (ROSC) CORPORATE GOVERNANCE COUNTRY ASSESSMENT Thailand January 2013 Acknowledgements This assessment of corporate governance in Thailand has been prepared by David Robinett, Ratchada Anantavrasilpa, and Catherine Hickey of the World Bank Global Capital Markets Practice, as part of the Reports on Observance of Standards and Codes Pro...

the company to rectify its financial condition to comply with the net fund maintenance rules as well as solve the issue of its improper and inadequate management and personnel structures and the case

resulting in the low audit quality; and High ratio of listed audit clients to audit personnel, leading to incomplete audit works, inadequate supervision, non-compliance with the firms’ policies and procedures

informative and tailored reporting specific to clients? circumstances. This is in contrast with the present reporting approach consisting of andard terms and boilerplates.? Reflecting on the meeting?s

company to rectify its financial condition to comply with the net fund maintenance rules as well as solve the issue of its improper and inadequate management and personnel structures and the case where the

more informative than sells.” Buy Sell t=0, P=P0 t=t1, P=P1 TPI TempPI PPI TPI TempPI PPI t=t1, P=P1 TPI TempPI PPI t=t2, P=P2 t=t2, P=P2 Buy t=t2, P=P2 t=t1, P=P1 t=0, P=P0 Where, P0 = price prior to

cover specific industry. In addition, there was lack of consultation in complex areas and inadequate quality control review system. The SEC found that EQCRs did not review some important work papers or

inadequate as the documentation was sometimes found to be insufficient in assessing potential risks and identifying appropriate responses for those risks. The SEC expects audit firms to improve their risk

opinion. After analyzing the root cause of these deficiencies, the SEC believes that they were caused by inadequate and/or inappropriate risk assessments during the audit planning stage. Therefore, it is