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

become apparent, that an investment scam or fraud has taken place. • Recognises that “low risk, high return” investments do not exist.

, “Strengthening Good Corporate Governance by Audit Committee and Independent Director: Experiences from Fraud Cases” to discuss samples of fraud cases taking place around the world and to raise the awareness of 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

securities issuers, financial advisors, auditors, market intermediaries, and stock exchanges. Both market integrity and investor protection could not be achieved without high quality financial information

fraud risks by management that was prone to be a significant risk area. As a result, this engagement was concluded as having a moderate risk level, instead of that of a high risk, although management’s

investors (II), venture capital funds (VC), private equity funds (PE), ultra high net worth investors (UHNW)22, as well as retail investors with some investment limit. • Retail investors should be allowed to

: This inspection cycle results shows that each audit firm pays attention to 1) the capacity building of its staff and remedying of high turnover rate, 2) improvement of audit manual to be more descriptive

regarding Definition of Institutional Investor, Ultra High Net Worth, and High Net Worth Investor; “client” means user of an intermediary’s services; “Stock Exchange” means the Stock Exchange of Thailand

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