constitute an unfair advantage to its customers or other interested person as specified in the notification of the Capital Market Supervisory Board. That is, the securities broker failed to Inefficient

Gamma from dif- ferent tests for future research. Here, for simplicity purposes, we assume the improved certainty- equivalent income that could be generated are additive across the two tests. Since the

. That is, the securities broker failed to Inefficient management and management of liquidity risks. (2) failed to maintain the net capital (“NC”) in accordance with the rules, conditions and procedures

auditor was unable to express opinion on AIE?s 2014 financial statements due to limited audit scope imposed by AIE management regarding inefficient internal control system on cost of sales and inventories

financial statements due to limited audit scope imposed by AIE management regarding inefficient internal control system on cost of sales and inventories. Consequently, AI auditor did not express opinion on

/starttogrow) for SMEs, Startups and interested public. The presentation and functionality of this microsite focus on the simplicity and nice-looking features and contains easy to understand contents. It is

statement of equity change of the shareholders, and the annual cash flow statement 2015 due to inefficient internal control system with regard to the cost of sales and the inventory of 2014 and insufficient

due to inefficient internal control system with regard to the cost of sales and the inventory of 2014 and insufficient evidence to clarify decrease in the production yield. The AIE auditor also

) • Over/underreaction and temporary mispricing (Lakonishok, Schleifer, and Vishny, 1994; Daniel, Hirshleifer, and Subrahmanyam, 1997) • Markets are inefficient (Basu, 1977; Rosenberg, Reid, and Landstein

.? [The average scores range from 5 (the lowest) to 1 (the highest)]. Major issues found among the inspected audit firms included non-compliance with auditing standards and inefficient work monitoring