SEC suspends approval for a capital market auditor due to non-compliance with auditing standards
Wednesday 19 January 2022 | No. 11 / 2022
Bangkok, 19 January 2022 – The Securities and Exchange Commission (SEC) has imposed a six-month suspension on a capital market auditor, {A}, an audit partner of CWWP Co., Ltd., for deficiencies and non-compliance with the auditing standards for the audit of the 2015 financial statements of {X1} Public Company Limited.
Earlier, {X1} had under recorded its liabilities for short-term bills of exchange (B/E) in the annual financial statements for the financial year 2015. The SEC then reviewed the work of {X1}’s auditor and found audit deficiencies related to the issuance of B/E. The deficiencies resulted in {A}’s failure to detect the incomplete record of the B/E in the annual financial statements.
The SEC has therefore suspended the approval for {A} as a capital market auditor for six months, starting from 19 January 2022.
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