possible limit of individual freedom, regulation is essential to uphold market credibility and orderliness. Yet, the regulator’s exercising of power must be prudent, fair and only as necessary to protect the
Auditing - Report on the Observance of Standards and Codes (AA-ROSC) which mainly focuses on the strengths and weaknesses of the accounting and auditing environment that influence the quality of corporate
strengths and weaknesses of the accounting and auditing environment that influence the quality of corporate financial reporting. Reports on the Observance of Standards and Codes (ROSC) is a joint World Bank
might occur between the company, management, directors, and shareholders. The board should also prevent the inappropriate use of corporate assets, information, and opportunities, including preventing
in 2. Comply with the SEC regulations. 3. Correcting the misspelling of name 4. Changing mutual fund supervisor 5. Reducing mutual fund fees or expenses (2) Amendments that might request an
holders, investment decision, or price of the securities might be impacted, the SEC will order the company to have a special audit on such financial statements and report the result of such audit to the SEC
addition, information should be both financial and non-financial which reflects the strengths and weaknesses of the company in order for the shareholders to have complete information in making a decision and
related associations The SEC has the power to make an order for the directors or members to clarify about facts of the associations. The SEC or the officers are empowered to enter the association during the