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คุณอยู่ที่ : หน้าแรก > การปฏิบัติตามมาตรฐานสากล > Accounting and Auditing ROSC (AA ROSC)
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The Financial Sector Assessment Program (FSAP)
Accounting and Auditing ROSC (AA ROSC)
Corporate Governance-Report on the Observance of Standards and Codes (CG-ROSC)
Corporate Governance Watch (CG-Watch)
การจัดอันดับความยากง่ายในการประกอบธุรกิจในประเทศไทย (Doing Business 2019) สำหรับตัวชี้วัดด้านการคุ้มครองผู้ลงทุนรายย่อย
Accounting and Auditing ROSC (AA ROSC)

In 2007, Thailand participated in the World Bank’s country assessment program on Accounting and Auditing - Report on the Observance of Standards and Codes (AA-ROSC) which mainly focuses on the strengths and weaknesses of the accounting and auditing environment that influence the quality of corporate financial reporting.


Reports on the Observance of Standards and Codes (ROSC) is a joint World Bank and International Monetary Fund (IMF) initiative that helps member countries strengthen their financial systems by improving compliance with internationally recognized standards and codes.  The recommendations contained in the report aim to build on the existing system, and offer the groundwork for a country action plan geared toward a strengthened infrastructure of corporate financial reporting in Thailand.



The full report is available at


Updates on Actions Taken in response to AA-ROSC
(As of December 2012)

Observations and Recommendations
Actions Taken
Convergence of Thai and international standard with adoption of IFRS for public interest entities
Currently, The Federation of Accounting Professions (FAP) issues Thai Accounting Standards which are based on International Financial Reporting Standards and plans in two phases. The majority of standards are applied in 2011, while the remaining standards will be applied in 2013 with the other two TASs (Financial instruments and Insurance contracts) effective in 2016. 
Develop simplified financial reporting requirements for small and medium enterprises (SME)
In 2011, The Federation of Accounting Professions announces Thai Financial Reporting Standards for Non-Publicly Accountable Entities (TFRS for NPAEs) which is applied for annual period on or after 1 January 2011.
- Audit practice review of quality assurance arrangements of audit firms because the audit quality cannot be assured by an individual auditor’s performance.  Therefore, the quality assurance arrangements of the audit firm are very important.
- The need for an independent audit quality review arrangement for all practicing auditors and the establishment of independent audit review should not forego the self-regulatory function of the professions.

- In the short-term, put in place an arrangement for review of audit practice focusing on the auditors of listed companies in Thailand.  SEC should work in partnership with the independent audit quality review arrangement.
- In the long term, audit practice review should be carried out under the independent audit quality review arrangement.
The SEC launched an audit quality inspection project with a technical assistance from the World Bank.  The assistance also covered advice of international consultants on planning of oversight of audit quality review of audit firms, capacity building of SEC staff on audit quality review methodology and techniques, advice of Thai experts on designing manuals for audit work quality control system for audit firm.  The SEC conducted several trainings and workshops on audit quality assurance system for small-and medium-sized audit firms.

The SEC amended securities regulation and announced the Notification of the Office of the Securities and Exchange Commission No. SorShor. 39/2553 Re: Approval of Auditors in the Capital Market which requires the audit firm whose auditors have been approved as auditor in the capital market shall have audit quality assurance system. Such system shall comply with the International Standard on Quality Control (ISQC1). The SEC has completed the 1st cycle of reviewing audit firms' quality assurance systems, totaling 26 audit firms have been inspected by the SEC. 


The Oversight Committee on Accounting Professions has established a task force to study the feasibility of establishing the separate independent audit quality review body in Thailand.
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