individual auditors’ engagement. The overall results of the inspection conducted on 13 audit firms in 2016 during the third cycle, which is between 2016 to 2018, indicated continuous improvement from the

audit quality, training sessions on how to remedy the recurring deficiencies identified in several audit firms. Such efforts to develop audit 02 quality have evidently paid off with the improvement of the

are higher than distressed RTOs. • BHAR is decreasing in relative deal size and future changes in book value to equity. • Liquidity shows improvement post announcements as indicative in lowered spreads

firms demonstrated an improvement vis-à-vis the results from the previous inspection cycle. Such improvement was undoubtedly enabled by the formulation of audit firms’ root cause analysis process and

. The SEC also encouraged audit firms to prepare for compliance with the International Standard on Quality Management 1 to drive the improvement of the quality control system of audit firms in the capital

Hong Kong. This is an improvement from previous survey when Thailand was ranked the fourth. This year Thailand made progress in 4 out of 5 categories (CG Rules and Practices, Enforcement, IGAAP, and CG

representative office in the Kingdom shall obtain an approval from the Office. The representative under the first paragraph shall undertake only those businesses specified in the approval. The provisions of

lease Substantive analytical procedures, if used appropriately, could be an efficient means for auditors to obtain relevant audit evidence and to ensure that an overall conclusion are consistent with the

SEC focused particularly on the elements of ethical requirements and monitoring and to facilitate the firms’ improvement process, we added a summary of high-impact deficiencies and the analysis of root

from the first inspection cycle (2010-2012) to 2019, the first year of the 4th inspection cycle (2019-2021), showed promising overall improvement despite the SEC’s more intensive inspection in several