* 0.332*** (0.034) (0.033) (0.040) (0.104) Weighted CRT 0.129** (0.029) Constant 0.398*** 0.422*** 0.343** -0.406** 0.344** (0.021) (0.029) (0.062) (0.166) (0.057) Characterristic control N Y Y Y Y

AQIs ) 1 % 2564 2563 1 (Leadership Responsibilities for Quality within the Firm) ( ) (1) 2 (Relevant Ethical Requirements) ( ) (3) 3 (Acceptance and Continuance of Client Relationships and Specific

2562 1 (Leadership Responsibilities for Quality within the Firm) ( ) (2) 2 (Relevant Ethical Requirements) ( ) ( ) 3 (Acceptance and Continuance of Client Relationships and Specific Engagements) (1) (3

owner in shares under the fourth paragraph of Section 24, a director, an officer or an employee of such derivatives business operator. Furthermore, the auditor shall also adhere to the ethical code of

Assigned weights (%) 1st inspection cycle 2nd inspection cycle 1 2 4 6 5 3 Ethical requirements Client acceptance and continuance Human resources Engagement performance Monitoring 20 20 20 In de pe nd en t

for quality within the firm” and “human resources” elements, as compared to the results from the 2 or 1 cycle. Meanwhile, the “ethical requirements”, an element of observations and further improvement

requirements of the CFO and chief accountant in working for the initial public offering (“IPOs”) companies and listed companies, which include qualifications, experiences and constant technical development. This

Accountancy, Chulalongkorn University • President, Thailand Accounting Association • Ethical Standard Committee, Federation of Accounting Professions of Thailand under the Royal Patronage of His Majesty the

financial reporting standards, international standards on auditing, and international ethical standards for professional accountants. Our staff members were also delegated to the IFRS Advisory Council whose

result of an economic growth and our efforts to promote the capital market as source of funds for the private sector. Figure 2 reveals the constant decrease of listed companies per auditors from the end of