from the first inspection cycle (2010-2012) to 2019, the first year of the 4th inspection cycle (2019-2021), showed promising overall improvement despite the SEC’s more intensive inspection in several
inspection cycle (2016 to 2018), audit firms in the capital market established and maintained a system of quality control as required by the Thai Standard on Quality Control (“TSQC 1”). The majority of audit
further appropriate actions to establish consistency in the overall supervision of auditors and audit firms. In the quality control system inspection in 2020, the second year of the 4th inspection cycle
second-cycle audit inspection with a more robust inspection plan, in response to current audit environment and the deficiencies found during the first cycle. The results, thus far, have shown significant
and Exchange Commission Independent Audit Inspection Activities Report Independent Audit Inspection Activities Report for the 1st Cycle 1 October 2010 - 31 December 2012 Introduction Quality Assurance
Cycle of Audit Inspection ........................................................ Significant Statistical Information .................................. 02 04 05 08 24 38 40 43 Executive summary High
our expectations of each element for the second-cycle audit inspections, in response of the deficiencies found during the first cycle. It was obvious from the 2014 inspection results that the audit
in, provided the extent of fossil fuel use in the hybrid plant is controlled. Energy payback Energy payback periods are also improving. For solar PV systems, the energy payback period including balance
individual auditors’ engagement. The overall results of the inspection conducted on 13 audit firms in 2016 during the third cycle, which is between 2016 to 2018, indicated continuous improvement from the
inspection results in the 3 inspection cycle (2017-2018); the score in each element of the quality control system of most audit firms was higher than that during the 2 cycle, notably the ‘monitoring’ element