results of the current inspection cycle in the engagement-level mostly emerged from the lack of sufficient appropriate audit evidence in substantive procedures phase. The audit of revenue, the audit of
factors and the impact on business operations 1. The Company had analyzed the impact that may occur in the future If the company's clients are affected by the COVID-19 situation, causing the lack of
raised awareness among the stakeholders, focusing on auditors, accountants, and audit committees, of the importance of high quality financial reporting through initiations of and participations in various
standards. While the importance of the audit quality on the financial reporting process cannot be denied, the credibility of the financial information depends on responsibilities of other stakeholders as much
the auditors and the engagement quality control reviewers (“EQCRs”), the preparation for the appropriate implementation of the newly revised audit manual and audit procedures, 02 the lack of detailed
the worst impacts, the partial lockdown in April and May, and the lack of tourism as a driver of the economy, while not directly impacting our business, had a measurable effect on some of our customers
program for auditing difficult and complex areas, staff training limited to theoretical lectures and lack of case study on issues requiring professional judgement and professional skepticism, particularly
relative to performance evaluation, compensation, and promotion fail to recognise high quality work. Additionally, a lack of clear communication to all levels of the firm’s audit staff about the importance
quality in these areas. The root cause analysis on some audit firms’ continual lack of the ability to fully remediate their deficiencies revealed a scarcity of experienced and competent staff to assume
reasonable regulations. Beside regular communication with the preparers regarding the importance of quality financial reporting, the SEC cooperates with the Stock Exchange of Thailand in promulgating the