prescribing that the auditor to be approved by the SEC must be attached to audit firms having audit quality control system in accordance with the prescribed standard. The rules and regulations on approval shall
found in various jurisdictions raised serious concerns among capital market regulators on the quality of financial statements and more stringent quality control on audit work has been imposed to regain
audit quality management system shall comply with the international standard on quality management established by the International Federation of Accountants (ISQM 1), and having at least 5 audit staff
sufficient and reliable for supervising its auditor's work in compliance with the professional standards on a continuous basis. Such audit quality management system shall comply with the international standard
> Financial Reporting and Audit Oversight > Auditor Supervision > Quality Assurance & Review Regulations SHARE : Detail Content Financial reporting and audit oversight 2. Auditor
resembles the international supervisory framework. The audit quality control regulatory shall be performed at both individual auditor level and firm level. In order to enhance quality and reliability of the
(IFIAR) Financial Accounting Standards Board (FASB) International Accounting Standard Board (IASB) Supporting Accounting Profession to be in line with International Standards Auditor Supervision
Regulatory Summary of Approved Auditor in Capital Market Related Rules and Regulations Related Forms Quality Assurance & Review Independent Audit Oversight Handbook for approval of foreign auditors
a quantity and complexity of transactions that are sufficient for demonstrating knowledge and capacity of the auditor and audit engagement quality; and - having cumulatively performed audit duties
of Good Corporate Governance and Prevention of Frauds Regulatory Summary of Approved Auditor in Capital Market Related Rules and Regulations Related Forms Quality Assurance & Review Independent