SEC requests that business operators implement the BCP that must cover key work systems, including the trading system, the risk control system in compliance with the Net Capital Rules and the investment management system. This includes providing a communication channel that facilitates notifying and clarifying information to clients in case of major changes to service provision.“After continuous monitoring and coordinating with the business operators, we have found that they have implemen...
to be less informative or even uninformative. However, there has been doubt about whether expanded audit reports with KAMs are really informative to investors. Contributions This study provided the
of high fraud risk areas, group audits, procedures addressing going concern issues, and professional skepticism Inadequate documentation of audit works Insufficient supervision in certain high-risk
complex audit engagement which requires high judgment and skepticism to the partner or divisions with limited experiences, resulting in such partner or personnel in that division lacking an appropriate
2. * KPMG 2564 Big 4 (partner) 23 24 4 4 * / professional skepticism 11 3. * KPMG 2563 - 2564 Big 4 15.60% 20.31% * / AQIs 4. * KPMG 2564 Big 4 (staff/ partner ratio) 17 : 1 25 : 1 (staff/ manager
% * / )*100 Signing Partner Engagement Partner EQCR 2 9 AQIs 2. * EY 2563 - 2564 Big 4 (partner) 27 24 5 4 * / professional skepticism 10 3. * EY 2563 - 2564 Big 4 27.33% 20.31% * / AQIs 4. * EY 2564 Big 4
-experienced individuals also likely to possess professional skepticism which will promote the appropriate exercise of judgment by the engagement team. In 2019, the average years of experiences of partners
inappropriate exercising of professional skepticism. Our preliminary root cause analysis showed that each audit firm’s observations arose from different causes. For example, the absence of significant topics in
Thailand Executive Summary Over the past year, the Thai capital market experienced tremendous volatility and uncertainty, ranging from the contraction of the world economy and the Thai economy to behavioral
communicated to the group auditor? 6 How does the firm ensure that engagement teams exercise appropriate professional judgment and skepticism? 7 Does the Service Delivery Center perform audit procedures for the