raise independence issues. (Non-audit service) 3. High Risk Industries Resource, extractive, mining, oil and gas industries : • The current issue is not necessarily going concern but the issue is more
............................................................ B. Engagement Level ............................................... Root cause analysis and examples of action plans to improve the quality control system .................. Our Focus for the Third
procedures (including independence, quality standards, etc.)? If yes, please describe. 2 Does the firm have specific Continuing Professional Development (CPD) policies and procedures for all staff members and
, executives and staff covers the following areas: Accountability Responsibility Equitable Treatment and Participation Disclosure and Transparency Internal Control and Internal Value Creation by Enhancing Market
Exchange Act (SEA), which prescribes international standard structure, transparency and independence of the SEC Board by separating the roles and responsibilities of Chairman from those of Secretary-General
report quality, promoting an appropriate internal control system, and preventing frauds. The Securities and Exchange Commission (SEC), on September 29, 2020, held a public live talk on the topic
control system at the firm level and the individual engagement level, the SEC encourages all stakeholders to attain a better understanding and awareness of their roles within the ecosystem, from the
independence in case of non-audit service provision to cover every related parties of the audit firm. • Set out, in the quality control manual, the description and the scope of acceptable non-audit services that
not disclose indirect control, or control held through custodians or shareholder agreements, in spite of SEC rules that imply they should. Independence requirements for auditors still allow for the
, both listed companies and audit firms ought to put in place proper work processes and internal controls to ensure the desired outcomes. Listed companies need a suitable internal control system and a well