that bonds are a traditional financial mechanism for the rail industry, and therefore issuers are unlikely to go through an arduous accounting process at this early stage of the market just to label

complexity. Insufficient audit fees mean inadequate resources, which inevitably leads to long and strenuous work hours at all levels of the audit personnel. This eventually results in high turnover of audit

Thai economy. Reinforcing investors' confidence is an arduous and indispensable mission if the long-term growth of the capital market is to accomplish and sustain. To achieve such goal, the SEC endeavors