, deterring many companies from becoming ones. The dispersion of authority and supervision among several agencies and under several laws causes duplication of work, a lack of coherence and continuity. Besides
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
different withdrawal sequencing scenarios. Among the possible outcomes are an efficient scenario, a “split” scenario, and an “inefficient” scenario. The efficient scenario represents the most efficient
. 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
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