accounting department who prepares financial statements, auditors, the corporate governance of the entity that reports the financial statements, and other factors. Financial statements preparers control the
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
financial reporting system and promote sustainable growth of the capital market. Regarding the supervision of audit quality, the SEC found that the inspection results of audit firms’ quality control system
............................................................ B. Engagement Level ............................................... Root cause analysis and examples of action plans to improve the quality control system .................. Our Focus for the Third
entity or natural person, as well as the nature of such control. To the extent known to the issuer, indicate whether the issuer is directly or indirectly owned or controlled by another corporation, by any
maintains its mission to oversee and develop the quality of auditors in the capital market. The quality control system of the audit firms is regularly inspected, and the audit engagement is randomly selected
application shall be in the Form 35-1 as provided in the SEC electronic system; (2) in case where an offer for sale of newly issued shares by a public limited company with no doubt in good corporate governance
taking into account the best interest of unit holders. In addition, the applicant shall comply at least with the following criteria: (1) no reasonable doubt of the applicant’s financial position which may
, both listed companies and audit firms ought to put in place proper work processes and internal controls to ensure the desired outcomes. Listed companies need a suitable internal control system and a well
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