of audit firms has been an ongoing challenge, as a result of high turnover rates, coupling with low interests in this profession. With this concern in mind, the SEC and the Association of Chartered
% and 67% of RTO firms in Singapore and Thailand use mixed mode payment involving combination of share swap with cash/warrants is indicative of incoming firm’s concern of valuation uncertainty and
sales channels and new services in parallel to the ‘New Way of Life’ or ‘New and Now Normal’. To stabilize our businesses and retain financial flexibility, cost reduction was one of our measures. The
governance principles. Principle 4.3 When the issues of concern or risk factors identified have not yet been publicly disclosed, Institutional Investors should engage the Investee Companies on a confidential
capital. Using our voice through engagement with companies is an effective way to enhance our understanding of management’s objectives and to hold company leadership to account. It helps ensure that well
Offering (ICO) is an example of the application of new technology that has exciting potential to support fundraising needs for tech startups and social enterprises. 1.2 ICO refers to a digital way of raising
related to digital assets in the future. Significant and recurring deficiencies arising from the inspection of auditor’s engagement, e.g., revenue recognition, going concern and provisions of allowance for
ongoing focus at the SEC, and the fundamental way to achieve such objective is to create and promote a well-balanced ecosystem for financial reporting. Apart from promoting and developing the audit quality
, audits of revenue recognition based on the percentage of completion method, and assessments of the appropriateness of management’s use of going concern assumption. Our root cause analysis has revealed that
better results than that of previous year. This element, however, contains more key deficiencies than other ISQC1 elements and thus remains an area of key concern for the SEC. The inspection findings are