briefs

The Securities and Exchange Commission has revoked its approval of Jadesada Hungsapruek for status as an auditor in the capital market and will not reconsider his application for one year from September 22, 2011.
The order was issued after the SEC found he had committed auditing errors and failed to comply with standards when performing the audit of Nippon Pack (Thailand)’s financial statements for the years 2008 and 2009 and the first three quarters of 2009.
The SEC filed a criminal complaint against Wichai Chaistaporn, ex- chairman and managing director of Nippon Pack (Thailand), to the Department of Special investigation on May 27, 2010, and April 29 this year relating to fraud, embezzlement and falsifying documents from 2008 to 2010.
The SEC reviewed the audit performance of Jadesada, of Karin Audit Co, and found that he did not carefully review the documents to acquire sufficient and reliable evidence concerning Nippon’s transactions on securities investment, even though the company had continuously invested in large amounts of securities.

Sipa seeks director
The Software Industry Promotion Agency (Sipa) will start the selection process for a new director next month after operating without one over the past year. A source at Sipa said yesterday that the agency’s board would set up the selection committee next month.
Wutthipong Pongsuwan, Sipa deputy director, was selected as its new director in June last year but later the Sipa board of that time set up a panel to probe his qualifications after allegations that he was unfit for the top job. The panel recently agreed with those complaints, which prompted the existing Sipa board to cancel the announcement that he had been selected as director of the agency.