convergence with international standards. In building market confidence, the Thai capital market made a significant progress when it was ranked third of all 11 countries in Asia in the CG Watch 2012 survey
, efforts are being made to harmonise compliant assets and metrics covered by the different taxonomies across jurisdictions. The most prominent attempt in this sphere has been the development of a Common
for testing revenue recognition, and improper sales cut-off. The common errors made by the auditors are discussed below. Construction and property development An auditor failed to detect that an expense
Principles are an update of the 2002 15 Principles of Good Corporate Governance and include recommendations made by the 2005 CG ROSC for Thailand. The Thai Institute of Directors (Thai IoD) was established in