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SEC publishes Independent Audit Inspection Activities Report 2013



Tuesday 22 April 2014 | No. 56 / 2014



Bangkok, April 22, 2014
? The SEC unveiled the Independent Audit Inspection Activities Report 2013 which reflected advancement of audit oversight in Thailand, underlined transparency in auditor supervision and trustworthiness of listed companies? financial reporting.

Vorapol Socatiyanurak, SEC Secretary-General said that ?Following the 2010 revamp of audit oversight to require SEC-registered auditors work for audit firms having quality assurance system in compliance with professional standards, the SEC regularly inspects the firm?s audit quality to uphold market fairness, ensure proper investor protection with accurate and sufficient information for investment decision and build confidence in quality of financial reports of businesses in capital market.

The inspection results indicated that most audit firms, with their tremendous effort, have improved their audit quality assurance system in line with quality control standards and thus uplift quality of audit work and financial reports throughout the industry. Apart from being internationally recognized by the European Union, the International Forum of Independent Audit Regulator, and ASEAN Audit Regulators Group, corporate governance assessment in the Thai capital market also resulted in higher level due to reliable financial reports of listed firms, helping facilitate those firms? overseas fund raising and boost competitive edge of capital market and the country.? 

The above report is now available in Thai on the SEC website - www.sec.or.th (http://www.sec.or.th/TH/RaisingFunds/EquityDebt/Documents/activities_report_th_2556.pdf). The English version will soon be published in May 2014.

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Note:  As of May 12, 2014, English version is available on the SEC website at
http://www.sec.or.th/EN/RaisingFunds/EquityDebt/Documents/activities_report_en_2013.pdf