servicing clients who want to reclaim their assets and will lay off all employees,SEC found out that clients’ digital assets which remained under control or in possession of BX were transferred thereafter

understanding general IT control and going concern issues. Example 6 : An audit firm did not document the source of audit scope and basis of selection, both in test of control and substantive test of details. A

Rules, Conditions and Procedures for Operational Control in Underwriting of Securities (No. 2)

appropriate audit evidence and the possible effects are material, but not pervasive, resulting from: ( 2.2.1 circumstances beyond control of the entity (paragraph.........); ( 2.2.2 circumstances relating to

, resulting from: ฆ 2.2.1 circumstances beyond control of the entity (paragraph.........); ฆ 2.2.2 circumstances relating to the nature or timing of the auditor’s work (paragraph........); ฆ 2.2.3 limitations

effects on the financial statements of undetected misstatements, if any, could be material but not pervasive ( 2.2.1 Circumstances beyond the control of the entity (paragraph number........) ( 2.2.2

control system at the firm level and the individual engagement level, the SEC encourages all stakeholders to attain a better understanding and awareness of their roles within the ecosystem, from the

financial reporting system and promote sustainable growth of the capital market. Regarding the supervision of audit quality, the SEC found that the inspection results of audit firms’ quality control system

of audit firms has been an ongoing challenge, as a result of high turnover rates, coupling with low interests in this profession. With this concern in mind, the SEC and the Association of Chartered

  (with more than  50% control) Controlling structure in reverse takeovers 4 Merged firm  Combined value $12.6 mn (63 mn  shares x $0.2  Private firm  value $ 10 mn  (50 mn shares  x $0.2)  Public firm