involving with complicated transactions, audit works need competent audit teams under quality assurance system. To lift up confidence in the Thai capital market, audit firms should place priorities on
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
foundations to strengthen confidence in the system through various measures driven in tandem. An important contributor to confidence is the effectiveness of enforcement. In principle, “justice delayed is
the years, which led to otherwise avoidable damages and erosion of confidence in the capital market and the Thai economy as a whole. The SEC, therefore, will continue on with its timely and relentless
judicial system. Recommendations: Asian legal systems should continue to improve regulatory and judicial enforcement capacity to allow shareholders, especially non-controlling shareholders, to seek legal
attach to the audit firm equipped with audit quality control system. These efforts will support the Thai capital market and Thai accounting professions to gain more investor confidence, both domestic and
include rule revisions to require SEC approved auditors work for audit firms having audit quality control system and inspections to ensure the quality assurance of audit firms? procedures both firm and
Building Confidence in the Capital Market No. 1/2017 SEC orders KC to amend financial statements and arrange a special audit Bangkok, 6 January 2017 – The SEC has ordered K.C. Property Public Company
confidence and prevent recurrence of the problematic issue. In response to the said incidents, the International Organization of Securities Commissions (IOSCO) issued “Principle of Auditor Oversight," to its
. Apart from oversight of individual auditor quality, the SEC has established an effective supervisory model of independent oversight to monitor audit firms? quality assurance system since 2010. For more