of audit firms has been an ongoing challenge, as a result of high turnover rates, coupling with low interests in this profession. With this concern in mind, the SEC and the Association of Chartered
in the audit performance. These firms are also revising the monitoring procedures to be more comprehensive, both at the firm level and the engagement level. This matter requires much time and efforts
where it is appropriate to direct the issue. Is it a matter for the board of directors in its entirety? The chair or the lead director? Or a particular committee that may be responsible for the issues of
........). 5. Have emphasis of matter paragraphs resulting from (can choose more than one): ฆ 5.1 An uncertainty concerning entity’s ability to continue as a going concern (paragraph........); ฆ 5.2 An
important that the auditors carefully assess the audit risks and plan their audits accordingly. This becomes particularly important as the effective date of the new auditor’s report is fast approaching, where
related to digital assets in the future. Significant and recurring deficiencies arising from the inspection of auditor’s engagement, e.g., revenue recognition, going concern and provisions of allowance for
, understandable and accessible to the international community. On the basis of the Principles, it is the role of government, semi-government or private sector initiatives to assess the quality of the corporate
standards issued by the International Federation of Accountants (IFAC) in case the FAP has yet to issue or amend its standards to be in line with such international standards. Additionally, the firm consents
any) In the event that the major shareholders make an agreement on a matter that materially affects the issuance and offer for sale of securities or the management of the Company, and such agreement is
fuel made from both vegetable oil and animal fats.2 Biogas: A mixture of methane (CH4) and carbon dioxide (CO2) used as fuel and produced by bacterial degradation of organic matter or through