statements. The results indicate that without the complexity of consolidation process with many subsidiaries, companies are still facing financial statements adjustments. Although the complexity in the process
Section 7 Securities and Exchange Act B.E. 2535 Section 7. The Minister of Finance shall be in charge of the enforcement of this Act and shall have the power to issue ministerial regulations and
and subsequently lay out a proper and timely rectification plan. The audit firm leaders should be a champion in raising the awareness of the deficiency issue and allocating appropriate resources for the
deficiencies effectively because they took on audit engagements in excessive quantity and complexity beyond the capability of experienced personnel to perform quality audit work in accordance with the
complexity of engagements, significant engagement risks and audit partners’ other responsibilities. According to the SEC’s inspections, audit firms continuously put effort to resolve this problem in a variety
complexity. Insufficient audit fees mean inadequate resources, which inevitably leads to long and strenuous work hours at all levels of the audit personnel. This eventually results in high turnover of audit
the credit rating process CRAs should endeavour to issue opinions that help reduce the asymmetry of information among borrowers, lenders and other market participants; Independence and conflicts of
Implementation Many forms of engagement can be used to potentially increase the value of your assets and to mitigate risk, including: 1. Holding direct conversations with portfolio companies, regulators and issue
April 18, 2022 “Red flags” – how useful? • Very rapid growth • Charismatic founder with carefully managed image • Cultivation of politicians • Promises of philanthropy • Complexity • Friends and family in
audit-career candidates but this issue will require much cooperation from other stakeholders for it to have a chance at succeeding. As professional standards have constantly been amended and revised in an