several related parties, resulting in quite a complex group structure, which could put their independence at risk. For the current cycle, the SEC, therefore, concentrated on verifying the completeness of
previous inspections, the SEC observed that a number of audit firms had several related parties, resulting in quite a complex group structure, which could put their independence at risk. For the current
raise independence issues. (Non-audit service) 3. High Risk Industries Resource, extractive, mining, oil and gas industries : • The current issue is not necessarily going concern but the issue is more
current audit firm or when its current audit firm does not want to continue the audit engagement (Blouin et al., 2007). A client dismisses its current audit firm because of the following reasons: - A bad
, stronger protection for shareholder rights, whistle blower protection, and provisions to increase the independence and professionalism of the Securities and Exchange Commission (SEC). The SEC has also
Governance Network (2014) 7 Section A: Board 1.0 Responsibilities 8 2.0 Leadership and independence 9 3.0 Composition and appointment 11 4.0 Corporate culture 12 5.0 Risk oversight 13 6.0 Remuneration 14 7.0
second-cycle audit inspection with a more robust inspection plan, in response to current audit environment and the deficiencies found during the first cycle. The results, thus far, have shown significant
trustee of any REIT. Clause 12 5 The following cases shall be deemed that a trustee has lacked independence and shall be prohibited from becoming the trustee of a REIT: 3 Repealed by the Notification of the
for reform in individual countries. 4 G20/OECD PRINCIPLES OF CORPORATE GOVERNANCE © OECD 2015 The Principles were originally developed by the OECD in 1999 and last updated in 2004. The current review
consideration. - Review the internal control system to oversee that the internal audit procedures are adequate, appropriate and efficient. In addition, to observe the independence of the internal audit unit, as