our expectations of each element for the second-cycle audit inspections, in response of the deficiencies found during the first cycle. It was obvious from the 2014 inspection results that the audit
, all specifications but equation (1) in this study use industry fixed effects to mitigate the potential time invariant effects. 20 the stage of the business cycle. Accordingly, the following equation is
. However, to mitigate such shortcomings requires time and much collaboration from all relevant parties before any positive results would start to emerge. In the third-cycle inspection of 2016 - 2018, the SEC
time and resources, to perform the engagements. According to the result of audit firms’ quality control systems inspection in this 3 inspection cycle, we found that most of the firms already improved its
landscape of the capital market. In 2019, the SEC initiated to revisit the whole legislative structure regarding the supervision of auditing professions in Thailand for the first time to enhance the
recommendationto the remediation plan In general, the audit firms had remediated its deficiencies from previous inspection cycle as follows: The constraint on time and human resource in some of the audit firms
, the SEC adopted an online communication channel for the first time when organizing an educational event for stakeholders via Facebook Live, and issued relief measures to mitigate impacts of the COVID-19
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
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
and raw material importation by hedging forward contract from several financial institutions. Industry Overview In 2018, Thailand’s chicken meat export reached an all-time high which equaled to THB