professional skepticism exercised by the engagement team? - How does the EQr evaluate the involvement and independence of the EP? - How does the EQr evaluate whether appropriate consultation has taken place on
independence of the firm. - Precisely define the ‘related entities’ to enable the audit firms to completely disclose and consider the independence regarding related entities. The process to evaluate the
crucial for the auditors to suitably develop an expectation of the recorded amounts, sufficiently evaluate the reliability of data from which the expectation is developed, and determine an acceptable
performance. However, as the manners to evaluate performance may vary, the firm should implement the manner which is suitable for the environment and culture of each firm, Convincingly, the performance
, the SEC found that the audit firms did not seem to evaluate 11 whether there were any threats to independence or any conflicts of interest before issuing engagement letters to clients. Beyond
members of an engagement team becomes essential to audit processes to
Mechanisms in place to evaluate, assess and set environmental targets at Board and management- level Climate-related issues are considered at Board and management-level Results of governance structure leads to
did not identify clear roles and responsibilities and did not create a specific team to monitor these issues. 2. Relevant ethical requirements Most auditors adhere to professional ethics, and most audit
auditor single-handedly. In addition to the quality of the auditor whose signature is affixed to the audit report, the quality of the audit team and quality control system also serve as vital factors toward
and purchase date in the amount of THB 125 million. Ref. WINNER 0009/20108 Page 7 of 8 7. Basis used to determine value of consideration The Company appointed Financial Advisor to evaluate the