, resulting in fewer deficiencies detected. There are, however, other areas in which further improvements are warranted such as audit planning and risk assessments, audit procedures in response to fraud risk
Rules and Appropriate Investment Advisory (3) Knowledge on complex and non-complex capital market products e.g. derivatives, debt securities, and high-risk or complicated mutual funds (4) Investment
, the audit firms should always consider fundamental factors, such as audit partner’s capabilities and experiences. During the 2015 audit inspection, the SEC found that complicated audit engagements of
Commission concerning Additional Rules for Mutual Fund Investing in Derivatives and Credit Linked Notes; (c) investment units of a mutual fund of which the returns calculation is made in a complicated way
potential performance and risks (e.g. hedge funds, hybrid securities, structured products, investment units of a mutual fund of which the returns calculation is made in a complicated way (complex return fund
issues and accounting transactions completely. In various cases, inspection on auditors’ workpapers led to in-depth inspection concerning fraud and accounting fabrication of listed companies. Following the
Statistics of Criminal Actions (As of 31 December 2023) Cases Persons Cases Persons Cases Persons Cases Persons Fraud 0 0 3 17 0 0 3 14 Fail to exercise duty of care 0 0 - - 0 0 - - Disclosure of
the audit engagement. The weighted score of some risk factors may not appropriate; e.g., to allow the score of risk of fraud equal other risk factors. However, the SEC would like to recommend some
Annual Report 2010 ANN UAL REPORT 2010 SECURITIES AND EXCHANGE COMMISSION, THAILAND ASEAN ECONOMIC COM MUN ITY Vision S = Setting High Standard E = Ethical C = Committed Pro = Professional Mission Core value: SEC-Pro The SEC develops and supervises the Thai capital market to ensure efficiency, fairness, transparency and integrity. The SEC is to establish the Thai capital market as an important alternative for investors and fund raisers with an efficient mechanism for investor empowerment and, in...