control system at the firm level and the individual engagement level, the SEC encourages all stakeholders to attain a better understanding and awareness of their roles within the ecosystem, from the
understanding of their roles and building their readiness for discharging duties more efficiently and effectively. Additionally, the SEC reviewed the accuracy of financial reports of listed companies, supervised
understanding general IT control and going concern issues. Example 6 : An audit firm did not document the source of audit scope and basis of selection, both in test of control and substantive test of details. A
management system 3.3 Back office supporting system 3.4 Compliance system 3.5 Documentary preparation and record keeping system Chapter 4 Internal Control System Page 2 of 32 (Unofficial Translation) Chapter 1
committees, internal auditors, and regulatory bodies in accounting professions, and better understanding of their roles and responsibilities. Various tools and mechanism have been introduced to facilitate
development of the financial reporting ecosystem; it is our belief that for the financial reporting to be reliable, the stakeholders in the ecosystem should be aware, and have a good understanding, of their
2013-2015 37 kEY ACHiEvEMENTS 46 THE 20TH ANNivERSARY HiGHliGHTS 48 TwO dECAdES OF THE THAi CApiTAl MARkET dEvElOpMENT AppENdiCES 54 STATiSTiCAl HiGHliGHTS 79 REpORT OF THE SEC BOARd ON iNTERNAl CONTROl
enhancement in a number of markets. Large listed companies have sought to enhance their corporate governance as a means of both improving control mechanisms and better managing risks, and last but not least, to
. (2012) find that IT control deficiencies affect management forecasts. The management forecasts will be less accurate with the existence of material IT control deficiencies. 3 Why DO WE NEED To Audit IT
, employs a proper internal control system, and establishes an efficient and effective risk management system. To perform such roles, the audit committee, therefore, needs adequate knowledge and understanding