The Impact of Quality Management Standard on the Performanceof Audit Firms in Thailand
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Abstract
This study aims to assess the level of readiness as well as problems and obstacles of audit firms in Thailand in implementing the eight components of the Thai Standard on Quality Management (TSQM) for audit services, and to examine the impact of each component of TSQM on the efficiency and effectiveness of performance. This research was quantitative. The data was collected using questionnaires. The sample consisted of 212 limited companies providing audit services in Thailand, selected through simple random sampling using random number tables. Data were analyzed using descriptive statistics and multiple regression analysis. The findings revealed that the overall readiness of audit firms was at a high level ( = 4.48), particularly in relevant ethical requirements, while problems and obstacles were also identified at a high level ( = 3.64 and = 3.54), especially in the firm's risk assessment processes and TSQM components including relevant ethical requirements, engagement performance, resources, and monitoring and remediation processes positively influenced efficiency performance, while governance and leadership along with monitoring and remediation processes positively influenced effectiveness performance significantly at .05, which will enhance understanding of the role of quality management standards for audit services that appropriate and consistent with the Thai context.
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