Thailand Securities and Exchange Commission (SEC) instructed M Vision Public Company Limited (MVP) to conduct a special audit into transactions that raised concerns following auditor observations, the SEC’s review of MVP’s financial statements and explanations submitted to the Stock Exchange of Thailand (SET), and other information obtained by the SEC. MVP must submit the special audit report to the SEC within 30 days and disclose it concurrently via the SET Electronic Listed Company Information Transmission System (SETLink). The instruction follows MVP’s Audit Committee notifying the SEC about auditor observations from the review of MVP’s third quarter 2025 financial statements, including transactions that may indicate suspicious circumstances such as advance payments for operating expenses to trade partners and cash advances to directors. The SEC identified concerns relating to the engagement and services provided by trade partners, the balance of trade receivables, and transactions involving deposit payments, and required the special audit to cover relevant facts in 2025. The audit must be performed by MVP’s financial statement auditor, another auditor within the same audit firm, or an auditor affiliated with a Big Four audit firm, under Section 58(3) of the Securities and Exchange Act B.E. 2535 (1992).
Thailand Securities & Exchange Commission 2025-12-24
Thailand Securities and Exchange Commission orders M Vision to conduct a special audit and submit the report within 30 days
The Thailand SEC has mandated M Vision Public Company Limited (MVP) to conduct a special audit due to concerns from auditor observations and the SEC's review of MVP's financial statements. The audit, addressing issues like advance payments and cash advances, must be completed by MVP's auditor or an affiliated Big Four auditor. MVP must submit the audit report to the SEC and disclose it via the SET Electronic Listed Company Information Transmission System within 30 days.