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concerning about the enterprise risk management. The measures focus on having ef cient resource management, appropriate asset maintenance, and measures to prevent corruption. The assessment of internal control was conducted according to guidelines of SEC. The Audit Committee had an opinion that the internal control and risk management of the Company were adequate and appropriate without signi cant problems and weak points.
4. To review the compliance with laws governing securities and exchange, business of the Company and subsidiaries as well as the Company’s regulations. Based on the report of the internal auditor, executives, and external auditor, the Audit Committee viewed that there was no signi cant issues of the non-compliance with relevant laws or requirements.
5. To review the practice of good corporate governance. The Audit Committee reviewed and revised the corporate governance policy that the Company arranged in line with the SET’s corporate governance guidelines. The Company arranged the Statements of Business Conducts, Code of Conduct for directors and employees with fair treatment of all customers, trade partners, and stakeholders. The Audit Committee also conducted evaluations on the compliance of their performance to the policy annually.
6. To review the internal audit function. The Audit Committee quarterly reviewed the audit results, gave suggestions, and monitored operation and correction as per signi cant results in order to promote good corporate governance, fraud protection policy, anti-corruption practice, and suf cient and appropriate internal control. The Audit Committee also reviewed the revision of internal audit charter to meet the international standard and suit the Company. In addition, the annual budget for employment of the Internal Audit Unit, the assessment of independency of the internal auditor’s performance, and the adequacy and appropriateness of staff were also considered. After consideration on those matters, the Audit Committee viewed such issues were appropriate, without signi cant weak points.
7. To consider the nomination and appointment of the independent auditors and fix their remuneration in 2017
in order to propose the Board of Directors and the Annual General Meeting of Shareholders. After considering performance, independency, and remuneration level, the Audit Committee agreed to appoint Miss Krongkaew Limkittikul (Certi ed Public Accountant No. 5874), or Mr. Supachai Phanyawattano (Certi ed Public Accountant No. 3930), or Miss Siraporn Ouaanunkun (Certi ed Public Accountant No. 3844) of EY Of ce Limited to serve as the Company and subsidiaries’ external auditor again for 2017. The Company will incur auditor remuneration to the amount that is not exceeding 1,500,000 Baht and expense recognition of the audit fees for the Company and subsidiaries in consolidated nancial statements for 2017 to the amount that is not exceeding 5,605,000 Baht.
The Audit Committee gives signi cance to corporate governance, adequate internal control that suit the Company’s business operation, and taking into account the acceptable operational risk appetite so that accounting systems and nancial reports are accurate and reliable. This includes being complied with laws and regulations related to the Company’s business operation on continuing basis.
On Behalf of Audit Committee
(Mrs. Punnee Worawuthichongsathit) Chairperson of Audit Committee
Annual Report 2016
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