Bangkok, May 4, 2016 ? The SEC is seeking public comments on draft rules concerning qualifications of chief financial officers (CFO) and accountants who are the key preparers of financial statements and financial reports of initial public offering (IPO) and public offering (PO) companies.

The proposed rules would require that the CFOs and accountants of the IPO and PO companies maintain thorough knowledge and understanding of accounting principles, specified expertise, and regular skill improvement in their respective fields. Concurrently, the IPO and PO issuers would be required to disclose information on their CFOs and accountants with regard to their education, accounting training and work experiences.

The new qualification criteria would build a robust foundation for qualified CFOs and accountants, promote their contribution to the preparation of financial statements of IPO and PO companies, and develop sustainable quality of financial reporting and internal control system in the long run.
Meanwhile, the Stock Exchange of Thailand is in the process of drafting rules on maintenance of listing status whereby appropriate qualifications of CFOs and accountants in line with the overall ecosystem of listed companies would be taken into consideration as well.  

The consultation paper is available at www.sec.or.th/hearing.Stakeholders and interested parties are welcome to submit comments through the website, or facsimile at 0-22636354 or email: sarocha@sec.or.th.

The public hearing ends on July 3, 2016.