A. RAP and Audit methodology A.0 Risk Assessment Process for Engagement Performance element: Firm's Reference /Guidance Notes Description 1 What are the quality risks in Engagement Performance
(2019-2021), the SEC stepped up the inspection on each element to conform with today's changing contexts. More in-depth inspections on the areas containing risks to audit quality and sustainability of
audit firms and the auditors have improved significantly on the overall audit quality and on each element of their firm-level quality control systems, compared to the results from the first-cycle audit
THAI INDUSTRIAL PART Limited THAI INDUSTRIAL PART Limited (“TIP”) failed to report the acquisition or disposal of Sanko Diecasting (Thailand) Public Company Limited (“SANKO”) shares to the SEC Office
THAI INDUSTRIAL PART Limited THAI INDUSTRIAL PART Limited (“TIP”) failed to comply with rules specified by Securities and Exchange Commission on JUNE 1, 2017, TIP acquired shares of Sanko Diecasting
for quality within the firm” and “human resources” elements, as compared to the results from the 2 or 1 cycle. Meanwhile, the “ethical requirements”, an element of observations and further improvement
relevant technology element Identify and assess risks arising from IT Understand, identify, and test relevant ITGC Conclude on risks arising from IT and determine audit response Evaluate deficiencies in ITGC
TSQC1 consists of six elements, all of which are important for the system of quality control, deficiencies in one element inevitably affect the working of others and resolving a weakness in one element
inspection results in the 3 inspection cycle (2017-2018); the score in each element of the quality control system of most audit firms was higher than that during the 2 cycle, notably the ‘monitoring’ element
, the SEC took part as instructor at several seminars held by various organizations. Namely, Introduction to the Forensic Accounting Certificate (FAC), held by the Thailand Federation of Accounting