[Columbia Mountain Times] New comment on โครงการค้นหาดาวดวงใหม่เพื่อก้าวสู่ AEC..........

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Disconnected Youth in theTriangle: An Ominous Problem... - MDC
These young people are on afast track toward disconnection in the
midst of a region of prosperity and promise.
Product-Process Development Simulation to Support Specialty...
6 Figure I.2 - TraditionalAEC Contracting Relationships and
Cross-Functional,..... Majorcomplaints from contractors concern terms
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Pricing. Client. Budget-. FEE. Resources.

---------- Forwarded message ----------
From: guy perea <noreply-comment@blogger.com>
Date: Wed, 10 Jul 2013 14:49:07 +0000
Subject: [Columbia Mountain Times] New comment on
โครงการค้นหาดาวดวงใหม่เพื่อก้าวสู่ AEC..........
To: guyperea1@gmail.com

guy perea has left a new comment on your
post "โครงการค้นหาดาวดวงใหม่เพื่อก้าวสู่ AEC.........":

IN LACKING RULE OF LAW
In an exclusive interview in conjunction with the 2nd Asean Audit
Regulators Group Forum held in Malaysia recently, Nik Hasyudeen, together
with Singapore's Accounting and Corporate Regulatory Authoritychief
executive Juthika Ramanathanand assistant chief executive Julia Tay, and
the director of the Accounting Supervision Department of the Securities and
Exchange Commissionof Thailand Thawatchai Kiatkwankul, spoke to StarBiz on
some of the critical issues faced bythe industry.
Below are excerpts of the interview:
What are the priority issues for improving the work of audit firms in your
respective countries?
Nik Hasyudeen: In Malaysia, one of the things we always emphasise is the
tone set by the leadership of audit firms. We recognise that for agood,
high-quality audit to be performed, the leadership must be committed.
They have to invest in the necessary resources such as humancapital, and
the leaders have to make sure they are independent of their clients.
Every year, we conduct inspections on audit firms and engage the larger
ones to discuss critical issues facing the industry, including setting the
right tone and implementing a monitoring system to ensure quality.
What we're trying to do here is ensure that audit firms develop a very
strong tone and culture on a quality that is supplemented by a sound
framework of monitoring system.
All stakeholders (and not just the regulators) have a role to play in
ensuring a healthy financial reporting ecosystem. Directors and preparers
at company-level, for instance, have to ensure that their financial
statements are prepared incompliance with the required standards.
Juthika: In Singapore, we are also looking at the tone set at the top and
the emphasis on quality work.
The other area that we're looking atis improving professional scepticism.
We want to encourage greater engagement between auditors and their clients
to ensure that there is better contribution to the work that is being
audited.
We also put a lot of emphasis on compliance with financial
statementstandards, and we are looking at educating company directors on
their responsibility to prepare good sets of financial statements.
Kiatkwankul: Our priorities are pretty much the same as what Juthika had
just mentioned.
The audit oversight system is new for our country, but we concur with the
fact that the tone at the top is very important. What do you expect to come
out of the collaboration among Asean audit regulators, and what are the key
issues to address?
Nik Hasyudeen: One of the main objectives is ensuring consistency among
audit regulators. This is important to facilitate business, as many
companies nowadays operate in more than one jurisdiction. For instance, we
cannot have several different rules and definitions on the same subject.
It's important for regulators in the region to work together, especially
with the AEC coming into force in 2015.



Posted by guy perea to Columbia Mountain Times at July 10, 2013 at 7:49 AM



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