Bangkok, 13 September 2016 - The SEC has imposed a two-year suspension of approval on {A}, Executive Chairman of {X1} Company Limited, for failing to supervise the Know Your Client/Client Due Diligence (KYC/CDD) as well as client activity oversight systems. Additionally, the SEC is in the process of submitting the? case for consideration of the Criminal Fining Committee.During a routine inspection of {X1} Company Limited, the SEC found deficiencies in the company's KYC/CDD system. Also its clien...
, increasingly emphasize the importance of audit quality factor in the selection of auditors. Qualitative information in the firm inspection report is thus very useful for the selection process. In addition, the
In November 2019, SEC engaged the Thailand Development Research Institute (TDRI) to conduct a study on laws pertaining to the supervision of audit firms and auditors in foreign capital markets for supporting amendment of the Securities and Exchange Act B.E. 2535 (Securities and Exchange Act) to allow more effective and efficient supervision of audit firms and auditors in Thai capital market.SEC Secretary-General Ruenvadee Suwanmongkol said: “This is the first time SEC contracts an independ...
Alternative Energy Development Plan B.E. 2558-2579 (2015-2036) which aims to increase the ratio and the use of renewables in electricity generation. Renewable energy is mostly produced by small power
than 3 consecutive years; and SEC allows the auditors in a small audit firm to perform duties for more than 7 cumulative years but no more than 9 cumulative years. As the grace period is applicable to
less than 3 consecutive years; and SEC allows the auditors in a small audit firm to perform duties for more than 7 cumulative years but no more than 9 cumulative years. As the grace period is
relevant agencies to systematically assess problems and difficulties faced by SMEs and startups. In September 2019, a working group for the promotion of small- and medium-sized enterprises, startups, and
aspects of biases comprising (1) emotional or preference biases: focusing on present rather than future incidents; (2) belief bias: making conclusion based on too small sample size while associated risks
: Navigating the Information Security Landscape" for company directors, executives, personnel of medium and small-sized listed companies, SMEs, and crowdfunding issuers. The webinar aimed to enhance the
and financial statements audited by an auditor who is employed by an audit firm that has been inspected by the SEC*; 2. Submit half-year and annual financial statements that have been