of execution challenge: Firms capable of good audits but do not perform consistently. • Enhanced auditors report: implement for audits of December 2016 year-end financial statements; firms are starting

appoint competent officers to perform duties in accordance with this Act. Such ministerial regulations shall come into force upon publication in the Government Gazette.

of years wherein auditors are entrusted to be in charge of audit work and affix signature in giving opinions on behalf of the audit firms. Such amendment will allow capable and knowledgeable auditors

together with personal that are capable and highly skilled. There are risks, from relocating to new location, of both management, construction, requesting license that cost and time consume. Moreover, there

testimony to competent officer - - 1 1 - - - - Failure to comply with the competent officer's order - - - - - - 1 2 Failure to uphold professional standards - - - - - - - - Grand Total 43 80 29 137 111 218 32

law governing securities and exchange. “SEC Office” means the Office of the Securities and Exchange Commission under the law governing securities and exchange. “competent officer” means a person

fund, the Government Pension Fund, provident fund or any other legal entities as specified in the notification of the SEC. 4 “competent official” means any person appointed by the Minister to perform

Human resources are significant factors to audit quality. Accordingly, retaining competent and capable human resources in the audit firms’ rosters will contribute to high-standard audit quality. High

assurance that their personnel in each level are competent and capable of performing quality engagements. The firms therefore should establish clear policies and procedures for monitoring and processing the

and would be completed in the similar time periods. This caused work overload and shortage of skilled workers Q4/2018 and into Q1/2019, resulting on cost overrun. Discussion and Analysis of the Company