Bangkok--18 Sep--SEC
The SEC, Department of Business Development, Ministry of Commerce and 10 public and private sectors signed a memorandum of understanding (MOU) to implement the project on electronic service for filing of financial statements (e-Filing).
Vorapol Socatiyanurak, SEC Secretary-General said that “The SEC is pleased to be a part of this project and this MOU signing is aim at promoting and developing e-Filing service to facilitate and broaden channels for the financial statements submission. The project is expected to bring about more efficiency information service and accuracy of financial statement information, less time-consuming process and lower cost for public and private sectors.”
The SEC gave advice on standardizing taxonomy by taking into account the relevant legal requirements. The SEC also supported financial statements data linkage through a single point e- Filing system available in many languages to facilitate accurate analysis of financial statements.
Vorapol Socatiyanurak added that “The SEC is well aware of the necessity to develop more speedy and accurate e-Filing system in order to lift up the quality of information dissemination service for companies’ financial statements. This will be very supportive to institutional and retail investors’ analysis on their investment choices.”