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
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
The SEC encourages its inspectors to continue their professional development by providing internal and external training with excellent support from the World Bank. The inspectors have been trained in
the capital market were taken care of to ensure that they would be able to continue functioning seamlessly. In this regard, building a quality financial reporting system in compliance with international
-level is inadequate and insufficient. An absence of description and example on what is expected to be monitored also causes the assigned person the inability to monitor the significant matters thoroughly
control. REFORM PRIORITIES IN ASIA: TAKING CORPORATE GOVERNANCE TO A HIGHER LEVEL © OECD 2011 11 II. EXECUTIVE SUMMARY Priority 1: Public- and private-sector institutions should continue to make the
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
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
Office on a suspicious ground related to disclosure of information to the public or the SEC Office that was incomplete, contrary to facts, insufficient for making an investment decision, or that misled