Report on the Observance of Standards and Codes (ROSC) CORPORATE GOVERNANCE COUNTRY ASSESSMENT Thailand JANUARY 2013 Report on the Observance of Standards and Codes (ROSC) CORPORATE GOVERNANCE COUNTRY ASSESSMENT Thailand January 2013 Acknowledgements This assessment of corporate governance in Thailand has been prepared by David Robinett, Ratchada Anantavrasilpa, and Catherine Hickey of the World Bank Global Capital Markets Practice, as part of the Reports on Observance of Standards and Codes Pro...

unused, outdated machines Baht 23 million. 1,361 1,327 1,204 1,456 1,302 1,240 1,205 1,174 9 (15) (124) (143) (52) (63) (35) (60) (200.0) (180.0) (160.0) (140.0) (120.0) (100.0) (80.0) (60.0) (40.0) (20.0

caused by such differences. Clause 18 mutual funds and trusts shall rotate an auditor by complying with the rules prescribed in Paragraph 2, in the occurrence that the auditor has performed his/her duties

on to the seller’s remaining land. This resulted in shortage of rooms. Moreover, the four other buildings were 19 years old, which had never been renovated. The utility systems were outdated and run

. This resulted in shortage of rooms. Moreover, the four other buildings were 19 years old, which had never been renovated. The utility systems were outdated and run-down. It was then necessary to renovate

issuers shall explain at least the causes and key factors that make the difference, including the effect thereof. Clause 23 The listed company shall rotate an auditor by complying with the rules prescribed

Thai SME have problems with their ability to compete due to outdated production systems, labor quality, and lack of innovation and product development. Some SME are highly competitive but have not

of the audit procedures Inappropriate test of the net realizable value (“NRV”) of inventories such as the use of outdated price lists and the incorrect comparison of inventory costs against its

audit firms do not rotate auditors as required by the firm’s policy. 2. The policies and procedures regarding the declaration of financial interest and employment with other entities The audit firms set

, 2018, and September 30, 2018. 6 Market, dated November 20, 2018, both coming into effect January 1, 2019. The new regulations stipulate that listed firms shall rotate auditors who have performed their