risk assessment process, an auditor was not concerned about the reason why the client changed auditors and indicator in disclaimer opinion. The audit firm concluded that client had medium risk. Example 5
for quality within the firm’ element, compared in three inspection cycles. In general, it can be concluded that most of listed companies’ audit firms reached the evaluation results in each element of
, the SEC found that the audit firms did not seem to evaluate 11 whether there were any threats to independence or any conflicts of interest before issuing engagement letters to clients. Beyond
crucial for the auditors to suitably develop an expectation of the recorded amounts, sufficiently evaluate the reliability of data from which the expectation is developed, and determine an acceptable
· Forms 2 Does the firm have policies and procedures for the retention of firm’s documentation for a period of time sufficient to permit those performing monitoring and review procedures to evaluate the
September 2020 and the board of directors has already concluded that the company is truly affected by the COVID-19 situation.While the general shareholders’ meeting cannot be held to approve the annual
inspection to evaluate its compliance with its policies and procedures? – Monitoring Process If yes, please specify 1) Who perform such function e.g. in-house, outsource, network firm? 2) How often the firm
assessments. For example, the financial position of an audit client was concluded as normal although its liquidity was identified as poor without further explanation. (3) Risk assessment and risk response were
. The major causes could be concluded as follows: 1. In the second quarter of 2018, the company had income from sales services and electricity sales by subsidiary company amounting to Baht 276.54 Million