accordingly. The revised rules on the rotation of auditors specify that the auditors of a listed company must be rotated off after 7 cumulative years of service and must serve a cooling-off period for 5
matter are changed, SEC must revise the rules on the rotation of auditors accordingly. SEC has recently revised the rules on rotation of auditors of listed companies and will likewise revise such rules
operations and exposures in commodities • Impairment issues • Heightened cost controls at audit clients • Governance challenges (cannot get or retain strong directors) Layoffs Reduced capacity Audit fee
• Framework for promotion of audit quality • Revised requirement on auditor’s rotation pursuant to the Code of Ethics for Professional Accountants In addition, the SEC’s representatives were guest speakers at
Directors' Meeting No.8/2020, Appointment of Directors in Replacement of Those who will Retire by Rotation, and Addition of Agenda Items for the 2020 Annual General Meeting of Shareholders.(amended) 17/09
capital market. Nonetheless, the SEC still identified certain deficiencies in the quality control system in this inspection cycle such as rotation of auditors, insufficiency of human resources, completeness
which in doing so requires certain number of hours for training. Conversely, non Big-4 firms may retain fewer staff and have lower staff per partner and staff per manager ratio, as such non Big-4 firms
1 24 August 2020 Subject : Notification on Resolution of the Board of Directors’ Meeting No.8/2020, Appointment of Directors in Replacement of Those who will Retire by Rotation, and Addition of
amendments contain the following provisions: 1. Cancel the approval application procedure, retain information disclosure in the shareholders' meeting notice, and require the opinion of an independent
requirements as per the findings in the 2 inspection cycle. However, in 2017 we identified findings on the relevant ethical requirements in certain audit firms as follows: 1. Auditor rotation in case of listed