when they establish their private contractual relations. This corporate governance framework typically comprises elements of legislation, regulation, self-regulatory arrangements, voluntary commitments
is not sufficient to provide assurance that such non-audit services may or may not impair the independence arising from the self-review threat or advocacy threat. • The audit firm may lack necessary
audit firms were also conducted. For example, (1) succession plan and retention plan, (2) maintenance of independence of audit firms and auditors, (3) assessment on readiness of accounting personnel, (4
, 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
, appropriate and efficient. In addition, to observe the independence of the internal audit unit, as well as to approve the appointment, transfer and dismissal of the head of the internal audit unit or any other
consideration from all aspects before concluding the inspection results. The QARP composes of 6 non-practitioner members and 3 practitioner members. To retain the independence of the QARP and their opinions, the
, the SEC deems it necessary for the audit firms to be self-reliant, which always starts with an adequate supply of competent audit staff who possess thorough understanding of both accounting and auditing
encourage active co-operation between companies and employees. Securities regulators, stock exchanges, self-regulatory organisations and investor groups should continue to educate companies and the public
Slide 1 Anya Khanthavit, Ph.D. Distinguished Professor of Finance and Banking Faculty of Commerce and Accountancy Thammasat University Setting Self-Discipline Saving Rates for Thai Income Earners in
audit firms usually belong to a group of firms or a large network firm, which could lead to situations where the auditors’ independence could have been impaired had the firm leaders not been cognizant of