Bangkok, October 2, 2015 The SEC has rolled out an initiative to enhance sustainability of the financial reporting ecosystem, which is paramount to the integrity and soundness of the Thai capital market. This includes revising the governing rules to allow relevant parties to perform their duties effectively, as well as strengthening the roles of chief financial officers (CFO).

Prakid Punyashthiti, SEC Senior Assistant Secretary ? General, said: ?After a thorough analysis of the current financial reporting ecosystem and discussions with relevant parties including the SET and the Federation of Accounting Professions (FAP), we have agreed to formulate a collaborative effort to enhance financial reporting quality to be in line with international standards and to promote more active roles of financial accounts preparers and chief executive officers (CEO) of listed companies. This joint effort would further enhance public confidence in the capital market.?

The SEC will focus on enhancing the level of engagement of preparers of financial statements, CEOs, and CFOs from the very beginning.  In this regard, the SEC and the FAP are co-designing a curriculum for the preparation of the financial reports of listed companies for those people. In addition, amendment to the governing rules will add possession of accounting knowledge and passing of minimum training courses to the qualifications of financial statements preparers and CFOs. In any case, auditors and audit committees will still be required to verify the accuracy and completeness of financial reports.

?A well-balanced ecosystem whereby accurate and reliable financial reports are prepared by responsible parties will benefit investors a great deal,? Mr. Prakid added.