Waterhouse Co., Ltd. • Member, Board of Governors, Stock Exchange of Thailand • Academic Member, Accounting Profession Supervision Council, Ministry of Commerce • President, Institute of Certified Accountants

Activity Report 2016_En INDEPENDENT AUDIT INSPECTION ACTIVITIES REPORT 2016 INDEPENDENT AUDIT INSPECTION ACTIVITIES REPORT 2016 Executive Summary...................02 Quality Assurance Review Panel................04 Activities for Enhancing Audit Quality...................05 Summary of Audit Inspection Results A. Firm Level...................08 B. Engagement Level...........................28 Root Cause Analysis...................42 Framework and Focuses in 2017...................44 Essential St...

and effective oversight of the accounting and audit profession. (ii) Securities commissions and stock exchanges should require listed companies to disclose on a timely basis any change of auditors and

delegate its duty to other persons except where: (1) the trust instrument provides otherwise; (2) it is a transaction that is not personal in nature and needs no capability of trustee’s profession; (3) it is

transaction that is not personal in nature and needs no capability of trustee’s profession; (3) it is a transaction that a reasonable prudent owner of the property of the same characteristics as the trust

not personal in nature and needs no capability of trustee’s profession; (3) it is a transaction that a reasonable prudent owner of the property of the same characteristics as the trust property, who

of audit firms has been an ongoing challenge, as a result of high turnover rates, coupling with low interests in this profession. With this concern in mind, the SEC and the Association of Chartered

Accounting Professions under the Royal Patronage of His Majesty the King • Vice President and Chairman of the Accounting Profession Committee on Auditing, the Federation of Accounting Professions under the

in its practice of investment management. It should employ knowledge, ability and skills as a profession in management of investment under different situation, for instance: (1) Employment of personal

company should observe the duty of care in its practice of investment management. It should employ knowledge, ability and skills as a profession in management of investment under different situation, for