Keywords: Mazars, Thailand, Audit, TSA
10 March 2016
The objectives of the changes to the auditor’s report are as follows:
i. enhanced communication between auditors and investors, as well as those charged with corporate governance;
ii. increased user confidence in audit reports and financial statements;
iii. increased transparency, audit quality, and enhanced information value;
iv. increased attention by management and financial statement preparers to disclosures referencing the auditor's report;
v. renewed auditor focus on matters to be reported that could result in an increase in professional scepticism; and
vi. enhanced financial reporting in the public interest.
The new and revised drafts are effective for audits of financial statements for periods ending on or after 31 December 2016.