and Exchange Commission Independent Audit Inspection Activities Report Independent Audit Inspection Activities Report for the 1st Cycle 1 October 2010 - 31 December 2012 Introduction Quality Assurance

Cycle of Audit Inspection ........................................................ Significant Statistical Information .................................. 02 04 05 08 24 38 40 43 Executive summary High

individual auditors’ engagement. The overall results of the inspection conducted on 13 audit firms in 2016 during the third cycle, which is between 2016 to 2018, indicated continuous improvement from the

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

of how Thai taxpayers utilize tax-advantaged retirement saving vehicles Life-cycle patterns of retirement saving and implications on saving adequacy 1 Empirical evidence Two complementary perspectives

canning plants, and pressure from the rising cullet price over the past year i.e. in 2017 had caused the rising in cost per unit of branded products by our own manufacture. Part of which was compensated by

inspection cycle (2016 to 2018), audit firms in the capital market established and maintained a system of quality control as required by the Thai Standard on Quality Control (“TSQC 1”). The majority of audit

while the decrease in revenue of the combined cycle power plant is caused by temporarily shut down for major maintenance. Please be informed accordingly. Yours faithfully, (Mr.Pijayaphong Na Bangxang

from the first inspection cycle (2010-2012) to 2019, the first year of the 4th inspection cycle (2019-2021), showed promising overall improvement despite the SEC’s more intensive inspection in several

pressure. 3 The economic explanations as to why markets reward MBEB are, however, not sufficiently clear. 4 . The literature described next advances two main explanations to these rewards: increasing