COLLABORATION WITH CORE TEAM SUCH AS SUSTAINABILITY TEAM, RISK MANAGEMENT TEAM, FINANCE TEAM TCFD REGISTRATION PUBLIC DISCLOSURE DEVELOPMENT REPORTING 01 03 05 02 04 JULY 2021 MAY 2021 JUNE 2021 APRIL 2021
auditor single-handedly. In addition to the quality of the auditor whose signature is affixed to the audit report, the quality of the audit team and quality control system also serve as vital factors toward
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
immediate family member or close family member of the personnel in the audit team holds financial interest in audit clients or serve as a director or officer of an audit client, or as an employee in a
of high fraud risk areas, group audits, procedures addressing going concern issues, and professional skepticism Inadequate documentation of audit works Insufficient supervision in certain high-risk
confidentiality declaration before leaving their positions. More importantly, the audit firms ought to apply additional measures to any members of an engagement team, especially senior personnel and above, who are
, 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
the defensive measures to refrain the staff in question from being a part of audit team with which he or she will be employed. - In the event that the aforementioned staff had already engaged in the
did not identify clear roles and responsibilities and did not create a specific team to monitor these issues. 2. Relevant ethical requirements Most auditors adhere to professional ethics, and most audit
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