Detecting Corporate’s Earnings Manipulation in Thailand Corporate Governance Attributes and Audit Report Timeliness: Mediating Role of Corporate Disclosure and Transparency and Moderating Role of

European fixed income – trends and analysis SEC Classification : ใชภ้ายใน (Internal) - R E S P O N S I B L E I N V E S T M E N T - ESG Incorporation & Investment Strategies in Fixed Income Carmen

cylinders of PICNI and SCT Vietnam Gas Co., Ltd., and audit on the past record of purchases of small-sized gas cylinders determined by the Revenue Department as fictitious purchases. The SEC therefore

% Total comprehensive income (loss) attributable to owners of the parent Operating Profit (Loss) EBIT Net Profit (Loss) Total Comprehensive income for ther period Revenue from transmission and

2019 in order to enhance corporate efficiency and growth resulting in favourable operating results by achieving 12% gross profit margin in Q1-2020. UWC determined to continuously improve its strategic

sales 316.5 349.1 -9.3% 348.0 -9.0% Gross profit 355.9 421.0 -15.5% 455.2 -21.8% % 52.9% 54.7% 56.7% Other Income 9.1 4.3 110.6% 1.0 772.0% Total Revenue 681.6 774.5 -12.0% 804.3 -15.3% Selling and

) (2.97) (7.86) (2.84 4.66 (37.22) Total sales 418.00 99.35 266.26 96.02 (151.74) (36.30) Other income/1 2.73 0.65 11.05 3.98 8.32 304.76 Total revenue 420.73 100.00 277.31 100.00 (143.42) (34.09) Notes: /1

; Aerts & Zhang, 2014) 5 Patterns of Earnings Management • Income minimization/ Taking a big bath - during periods of high profitability - during the crisis (Kousenidis et al. , 2013) - to avoid political

subsidiaries had revenue from other income by Baht 1.23 million, increase by Baht 0.18 million, or 17.14% as compared to the same period of last year and other income increase by Baht 0.62 million or 101.64% as

- - Total revenue from sales & service 770.1 686.0 12.3% 771.8 -0.2% Cost of sales 349.1 322.2 8.3% 355.1 -1.7% Gross profit 421.0 363.8 15.7% 416.7 1.0% % 54.7% 53.0% 54.0% Other Income 4.3 3.6 21.2% 3.5