# The SEC has instructed COMAN to amend its financial statements by December 2

- Link: https://www.thailand-business-news.com/markets/172717-the-sec-has-instructed-coman-to-amend-its-financial-statements-by-december-2
- Published: 2024-11-02T18:26:11+07:00
- Author: SiamNews PR

**SEC has asked COMAN to rectify its Q2 2024 financial statements with missing information.
Despite plans to address issues, qualified opinion from auditor remains. COMAN must
submit revised statements by 2 December 2024.**

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Bangkok, 1 November 2024 – The Securities and Exchange Commission (SEC) has notified
Comanche International Public Company Limited (COMAN) to rectify its interim financial
statements for the second quarter of 2024 and to cooperate with the auditor by providing
information for reviewing such interim financial statements. COMAN must submit to
the SEC and publicly disclose the rectified and reviewed interim financial statements
via the SETLink Electronic System by 2 December 2024.

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The auditor expressed a qualified opinion on COMAN’s interim financial statements
for the second quarter of 2024 because the auditor was unable to obtain sufficient,
appropriate audit evidence regarding the failure to record allowance for uncollectible
refunds of advance payments for goods and omit to estimate the recoverable amount
of the investment in the subsidiaries to comply with financial reporting standards
despite indications of impairment.

Later, COMAN disclosed through the SETLink Electronic System on 5 September 2024,
1 October 2024 and 4 October 2024, that COMAN plans to record allowance for uncollectible
refunds of advance payments for goods that remain outstanding when the deposit is
due. Additionally, the Board of Directors Meeting of COMAN approved the sale of 
the entire investment in ordinary shares that the company holds in the subsidiary
to the person who is an unrelated party. However, the issues on which the auditor
expressed a qualified opinion in the interim financial statements for the second
quarter of 2024, still remain.

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The SEC therefore notified COMAN to rectify the interim financial statements and
to cooperate with the auditor in reviewing such interim financial statements. COMAN
must submit to the SEC and publicly disclose the rectified and reviewed interim 
financial statements via the SETLink Electronic System by 2 December 2024.

**Source** : [SEC notifies COMAN to rectify its financial statements for Quarter 2/2024 and cooperate with the auditor](https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=11281&rand=113627)