Inappropriate client acceptance assessments which resulted in the audit firms accepting engagements with risks that went beyond an acceptable levels; Lack of documentation on the background search of potential

Qualifications Related Work Experiences Required Examinations Securities Investment Analysis Related Rules on Investment Analysis Person approved or registered to perform duties in the same manner as ASEAN

increase investor confidence and strengthen the capital market stability. Valuers passing the examinations conducted by relevant associations since December 16, 2010 can submit the results to the SEC

, resulting in fewer deficiencies detected. There are, however, other areas in which further improvements are warranted such as audit planning and risk assessments, audit procedures in response to fraud risk

Singapore in this area due to the SEC’s independent oversight system and robust supervision of audit quality assurance on par with international standards. The SEC also completed its assessments on quality

asset value (NAV) by adjusting the number of investment units to reflect the change in investment unit price- Allowing business operators to be exempted from conducting investors’ suitability tests if

returns are fitted using GJR-t-GARCH models and then analysed using time-varying conditional copulas to ascertain if tail dependence exists. The study tests a number of well-known copulas, i.e., Gaussian

opinion. After analyzing the root cause of these deficiencies, the SEC believes that they were caused by inadequate and/or inappropriate risk assessments during the audit planning stage. Therefore, it is

report. This will ultimately lead to more useful, more accurate and more relevant financial information. Moreover, the SEC circulated the findings arising from audit inspection, namely risk assessments and

derivatives warrants and investor self- assessment tests. SEC Secretary-General Pornanong Budsaratragoon said: “The SEC emphasizes the importance of our collaboration with the Investment Banking Club, which