Bangkok: The Stock Exchange of Thailand, in collaboration with its partners, recently organized a seminar titled "Internal Audit Quality Through the Lens of Evaluation" to assist listed companies in enhancing their internal audit practices to meet international standards.
According to Thai News Agency, the event was a joint effort by the Stock Exchange of Thailand, the Securities and Exchange Commission of Thailand (SEC), and the Thai Listed Companies Association. Mr. Assadej Kongsiri, President and CEO of the Stock Exchange of Thailand, led the opening ceremony, emphasizing the critical role of high-quality internal audits. He noted that such audits are pivotal in fostering transparency and sustainability within organizations, offering significant insights and identifying genuine risks to aid better decision-making. Mr. Kongsiri stressed the importance of internal auditing as a cornerstone of good corporate governance, which is essential for creating enduring value for companies in the capital market and boosting confidence among shareholders, investors, and other stakeholders.
Professor Dr. Pornanong Busaratrakul, Secretary-General of the SEC, highlighted in her keynote address that quality internal auditing is integral to good corporate governance, enhancing the reputation and reliability of listed companies in the Thai capital market. She pointed out that confidence in the market is not solely reliant on regulatory activities but also on the internal governance systems of companies, which include proactive risk assessment, robust internal control mechanisms, and effective boards and management teams.
The seminar aimed to cultivate leadership roles among internal auditors, encouraging them to go beyond standard tasks by anticipating and understanding emerging risks. This proactive approach allows businesses to not only respond to risks promptly but also to make informed decisions that ensure sustainable value creation.
Featuring esteemed speakers, the seminar provided insights into external assessment guidelines based on Institute of Internal Auditors (IIA) standards. It focused on improving the quality of internal audit work through the Quality Assurance and Improvement Program (QAIP) in alignment with the Global Internal Audit Standards 2024. The event attracted around 450 members from audit committees and internal audit heads of listed companies, reflecting a significant interest in advancing the internal audit profession within Thailand.