remained unchanged at 20%. In 2013, the SEC performed the firm-level reviews for the total of 8 audit firms, as planned, and observed significant improvements in most aspects, especially in client acceptance
during this second-cycle audit inspections, the SEC observed significant improvements, compared to the results from the first cycle, on most aspects of the feedbacks and recommendations given by the SEC
firms made for each TSQC1 element might differ due to factors such as corporate cultures and their different strengths, we were fairly satisfied with the significant improvements observed in most aspects
newly approved auditors (as shown in figure 15). We observed the continuous improvement of audit quality over the past years. The result of audit quality inspection in this 3 inspection cycle (as shown in
review is adequate, and the audit has quality. If the engagement teams fail to obtain sufficient appropriate audit evidence, the partners and the managers should be able to identify the issues before
profession standards. Furthermore, the SEC representatives attended conferences to share ideas and experiences with the stakeholders and participated in domestic and international symposiums. obtain certain
representative office in the Kingdom shall obtain an approval from the Office. The representative under the first paragraph shall undertake only those businesses specified in the approval. The provisions of
or through mutual agreements. The chapter also supports stakeholders’ access to information on a timely and regular basis and their rights to obtain redress for violations of their rights. V
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
sector from the economic downturn observed. In addition private consumption is in a declining trend due to freeze in business activities and social distancing. For the first quarter of 2020, the net profit