Administration Chiang Mai University Introduction According to Jensen and Meckling (1976)’s agency theory, an audit is an agent cost that helps reduce information asymmetry between an agent and a principal

held by the Company to Big C Retail Holding Company Limited (“Big C Retail”) at THB 180.00 per share, which is the agreed price between the Company and Big C Retail, and is also higher than the 30-day

staffing levels. The result of 3 inspection cycle shows that the proportion of the number of listed companies per audit managers (or equivalent) was 0.7 for Big-4 firms and 1.5 for Non Big-4 firms

COVID-19 epidemic situation, the performance of Trading business felt 66.10% YoY, mostly from sales of the catalyst for aromatics production is over Baht 800 million, which is Big Lot sales based on

called “The Company”) still has carried adjustment of the business strategy to focus on the large project since last year and we got purchase order from big industry in first quarter of 2019 in an

of useful insights with auditors. In 2019, the SEC organized meetings to discuss significant matters and visited audit firms, both big audit firms and Thai audit firms, to exchange knowledge and

Local firms 20 Firms 9% 37%54% (27 Auditors) 285 Thai auditors (104 Auditors) 3 Foreign auditors 1 International firm International firms 5 Firms Big 4 firms 4 Firms At the end of 2020, there were 288

(THIS REPORT DISCUSSES PRINCIPAL CHANGES TO THE REVIEWED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE FIRST QUARTER ENDED 31

sales and services decreased Baht 1,275.11 million or 69.90% from the corresponding period of the previous year, mostly from revenue from Big Lot of Trading which was a non regular transaction decreased

purchase order from big industry in first quarter of 2019 in an amounting of Baht 89.84 million. Almost of all revenue was gradually recognized since first quarter until this quarter. Moreover the Company