inadequate as the documentation was sometimes found to be insufficient in assessing potential risks and identifying appropriate responses for those risks. The SEC expects audit firms to improve their risk
complexity. Insufficient audit fees mean inadequate resources, which inevitably leads to long and strenuous work hours at all levels of the audit personnel. This eventually results in high turnover of audit
of high fraud risk areas, group audits, procedures addressing going concern issues, and professional skepticism Inadequate documentation of audit works Insufficient supervision in certain high-risk
firms did not concern over significant client’s issues before accept those clients. Example 1 : There was insufficient documentation regarding client acceptance evaluation. In addition, some evaluation
) insufficient evidence on the reasonableness of the management’s decision to make transactions for investment in two associate companies, (2) insufficient evidence on the reasonableness of the management’s
cancelling the establishment of the REIT if the number of units sold fails to meet the requirement, for instance, having less than 250 investors, or raising an insufficient amount for the specified investment
2.1.3 inappropriate/insufficient disclosure of information (paragraph........). ฆ 2.2 Inability to obtain sufficient appropriate audit evidence and the possible effects are material, but not pervasive
, JAS has not recognized any liabilities resulted from the Supreme Court decision, viewing that there is insufficient information to reliably estimate the additional liabilities. As JAS has not recognized
enhanced monitoring of and engagement with the investee companies if monitoring pursuant to Principle 3 is considered insufficient. Principle 5: Have a clear policy on exercising voting rights and disclosure
investee company when monitoring pursuant to Principle 3 is considered insufficient. Principle 5: Oversee asset managers to have clear policy on exercising voting rights and disclosure of voting results