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SEC instructs KWI to conduct a special audit regarding the auditor’s observations



Friday 25 April 2025 | No. 105 / 2025


Bangkok, 25 April 2025 – The Securities and Exchange Commission (SEC) has instructed KWI Public Company Limited (KWI) to conduct a special audit regarding transaction irregularities as observed by the auditor. The company is required to submit the special audit report within 30 days and disclose the report through the Electronic Listed Company Information Transmission System of the Stock Exchange of Thailand (SETLink). 

Earlier, the KWI Audit Committee reported the auditor's observations from auditing the company’s financial statements to the SEC as it was found that several transactions appeared irregular such as disbursements for various expenses without supporting documents, or expenses unrelated to the company's normal business operations, or consulting service fees that the auditor could not validate the accuracy and occurrence of the consulting service. Additionally, there were issues regarding the deposit payment for land purchase and the management of the company's asset utilization. Furthermore, the SEC noted concerns about loans given to two legal entities, which subsequently became shareholders in KWI.

Therefore, by virtue of Section 58 (3) of the Securities and Exchange Act B.E. 2535 (1992), the SEC has instructed KWI to conduct a special audit on the matters above, with specific examination of facts over the past three years. To ensure auditor independence, this special audit must be performed by one of the Big 4 audit firms that is different from the audit firm performing audit service for KWI during the past three years stated above. Additionally, KWI must submit the special audit report to the SEC within 30 days from 25 April 2025 and simultaneously disclose it through SETLink. 








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