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the Company possess qualifications that meet requirements of Section 68 of Public Limited Companies Act, B.E. 2535, Securities and Exchange Act, and relevant notifications of Capital Market Supervisory Board (CMSB). The management structure of the Company is as follows:
1. Audit Committee
As of December 31, 2016, the Audit Committee comprised three members and details of their meeting attendances were as follows:
Name
Position
Number of Attendances/ Number of Meetings (Time)
1. Mrs. Punnee Worawuthichongsathit 2. Mr. Preecha Leelasithorn
3. Mr. Kriengsak Thiennukul
Chairperson of Audit Committee 5/5 Member of Audit Committee 5/5 Member of Audit Committee 5/5
The Audit Committee who has adequate expertise and experience to review creditability of the financial statements is Mrs. Punnee Worawuthichongsathit and the Secretary to the Audit Committee is Miss Suansri Suankul.
Term of Office
The Audit Committee serves a term of three years since the appointment date. The retiring members of the Audit Committee shall be re-elected. In cases of vacancy for the member of Audit Committee due to other reasons aside from retirement by rotation, the Board of Directors shall appoint those possessing complete qualification to be the member of Audit Committee in order to replace the vacant position as specified by the Board of Directors. The replacement member will serve only the remaining term of the Audit Committee member whom he/she replaces.
Authority, Duties and Responsibilities of Audit Committee
1. To review the Company’s financial reports and ensure its accuracy and adequacy.
2. To review the Company’s internal control and internal audit systems and ensure that they are suitable and effective.
3. ToreviewandensuretheCompany’scompliancewiththelawonsecuritiesandexchange,regulationsofSET and the laws relating to the Company’s business.
4. Toconsider,select,nominateandterminateanindependentpersonforappointmentastheCompany’sauditor and propose remuneration for such person, and for the termination of such appointment; as well as to attend a non-management meeting with the auditor at least once a year.
5. To consider related party transactions or transactions that may lead to conflicts of interest and ensure that they are in compliance with the laws and the regulations of SET and reasonable as well as creating the highest benefit for the Company.
6. To prepare and disclose the Report of the Audit Committee in the Company’s annual report. This report must be signed by the Chairperson of the Audit Committee and must contain at least the following information:
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