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Thailand May Require Exchange-Listed Firms to Change Auditors Every Five Years.

Bangkok Post (Bangkok, Thailand)

| April 10, 2003 | COPYRIGHT 2003 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Nuntawun Polkuamdee

Apr. 10--Listed companies could be required to rotate auditors every five years as part of measures to support good corporate governance, according to Sopawadee Lertmanaschai of the Capital Market Opportunity Centre at the Stock Exchange of Thailand.

The chairwoman said the Bank of Thailand had already imposed a five-year maximum term for local banks in retaining auditing firms.

Requiring listed firms to rotate auditors would be a positive development and strengthen cross-checking of corporate accounts, Ms Sopawadee said.

Opportunities for auditors and company management to collaborate together to distort ...

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