To further test the relationship between the competencies of the
accounting students, and their level of readiness for the AEC, a multiple
regression model was used. The results in Table 4 show that there is a
significant positive relationship between the Capability, Knowledge,
Ethical, and Relationship competencies of the accounting students and
their level of readiness for the AEC at the 0.01 level. As indicated by R2
of 0.491, these competencies explain almost 50 per cent of the changes
in the dependent variable, namely the level of readiness for the AEC.
Therefore, Thai accounting students should improve the Capability,
Knowledge, Ethical, and Relationship competencies to increase their
level of readiness for the implementation of the AEC. The results are
consistent with the prior study by Steelyana (2012) who also found a
relationship between the competencies of Indonesian accountants and
their readiness for the AEC. This consistency arises because all ASEAN
countries are aware that they have to improve the readiness of their
people for the AEC, especially those employed in the eight professions
which will form the core of the free service areas, namely, Engineering,