Waterhouse Co., Ltd. • Member, Board of Governors, Stock Exchange of Thailand • Academic Member, Accounting Profession Supervision Council, Ministry of Commerce • President, Institute of Certified Accountants
, Price Waterhouse Co., Ltd. Member, Board of Governors, Stock Exchange of Thailand Academic Member, Accounting Profession Supervision Council, Ministry of Commerce 5 In de pe nd en t Au di t In sp ec ti on
the Securities and Exchange Act B.E. 2535 (1992), the Derivatives Act B.E. 2546 (2003) and the Trust for Transactions in Capital Market B.E. 2550 (2007). “Institute of Appraisal Profession” means an
profession. The audit profession includes, for example: audit firms, professional bodies and bodies or entities associated with the audit profession. Indicators of independence from the profession include: - A
nationwide to demonstrate opportunities and attractiveness of the accounting profession. Moreover, the SEC worked closely with the TFAC by delegating representatives to participate in various committees and
6. Audit risks related to developments in the audit firms and profession Tone at the Top / Culture • Potential causes behind lack of improvement in level of inspection findings: fee pressures
encouraged audit firms without an international network to form a coalition to share academic supports among themselves. For example, a joint development of an audit program, joint training sessions, and
future adequacy of the firms’ human resources. In particular, there has been a lack of competent workforce in the audit profession due to the audit firms’ high turnover rate. Furthermore, a declining
the deficiencies found at both levels are a result of a few factors, such as shortage of human resource within the profession, improper job assignment, an audit planning that failed to respond to
, scorecards, as well as academic work. Most importantly, Asian jurisdictions are committed to improving corporate governance across the region. This commitment to excellence in corporate governance matters not