The Federation of Accounting Professions (FAP) is accelerating investigations into auditors’ ethics in the case of the scandal-hit Stark Corporation, with the aim of restoring confidence to set a better standard for auditing companies in the future.
Winit Silamongkol, president of the FAP, said auditors licensed to act as auditors of listed companies on the stock exchange must be authorised by the Securities and Exchange Commission (SEC), which approves and possesses the complete qualifications of such auditing companies.
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