The Impact of Environmental, Social, and Governance (ESG) Standards on Audit Approaches for Small and Medium-Sized Enterprises (SMEs) in Bangkok
Keywords:
ESG standards, auditing, Impact, Small and Medium EnterprisesAbstract
This research aimed to investigate the impact of Environmental, Social, and Governance (ESG) standards on auditing approaches of small and medium-sized enterprises (SMEs) in Bangkok and to examine the relationship between auditing approaches and ESG implementation. The study was conducted between January 2025 and August 2025. A mixed-methods research design was employed, comprising documentary research and survey research. Quantitative data were collected from a sample of 400 SMEs across three major business sectors using proportional stratified random sampling. The data were analyzed using descriptive statistics, Pearson’s correlation coefficient, multiple linear regression analysis, and Exploratory Factor Analysis (EFA).
The findings revealed that SMEs in Bangkok placed high importance on ESG practices, with an overall mean score of 3.98. Among the three dimensions, the social dimension recorded the highest mean (𝑥̅ = 4.00), followed by governance (𝑥̅ = 3.99) and environmental aspects (𝑥̅ = 3.94). Overall, auditing approaches were rated at a very high level (𝑥̅ = 4.29), with compliance with accounting standards and risk management receiving the highest mean score (𝑥̅ = 4.35). Statistical analysis confirmed that ESG practices had a significant positive impact on auditing approaches (R² = 0.672, p < 0.001), with the governance dimension exerting the most decisive influence (β = 0.426). Positive correlations were observed across all dimensions, particularly between information disclosure and governance (r = 0.635). Furthermore, the results indicated that applying ESG standards enhanced efficiency, increased transparency, and reduced auditing risks. The study recommended integrating ESG principles into SMEs’ accounting systems and strengthening government support for knowledge dissemination and financial resources to enhance competitiveness and long-term sustainability.
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