Audit Committee
The Board of Directors has approved the setting up of the Audit Committee, which at persent comprises 3 independent directors as follows:
Name-Surname Position Details
Mr. Suwit Chindasanguan Chairman of Audit Committee Independent Director.
Knowledge in accounting and finance.
Miss Potjanee Thanavaranit Member of Audit Committee Independent Director.
Knowledge in accounting and finance.
Mr. Tithiphan Chuerboonchai Member of Audit Committee Independent Director.
Knowledge in finance.
Scope of Powers, Duties and Responsibilities of the Audit Committee
1. To consider, select nominate and withdraw an independent person to be the Company’s auditor, and to propose the auditor‘s remunerations, as well as to attend a non-management meeting with an auditor at least once a year
2. To review the Company’s financial reporting process to ensure accuracy and adequate disclosure.
3. To review the Company’s compliance with the law on securities and exchange act B.E. 2535, the Stock Exchange of Thailand (SET), the Office of the Securities and Exchange Commission (SEC) regulations or the laws relating to the Company’s business.
4. To review the Connected Transactions, or the transactions that may lead to conflicts of interests, to ensure that they are in compliance with the laws and the Stock Exchange’s regulations, and are reasonable and for the highest benefit of the Company
5. To review the Company’s internal control system and internal audit system to ensure that they are suitable and efficient, to determine and internal audit unit’s independence, as well as to approve the appointment, transfer and dismissal of the chief of an internal audit unit or any other unit in charge of an internal audit.
6. To review the Company’s risk assessment system and manage risk adequate, properly and efficiently
7. To prepare and disclose the Audit Committee’s report in the Company’s annual report which must be signed by the Chairman of and consist or at least the following information:
a. An opinion on the accuracy, completeness and creditability of the Company’s financial report.
b. An opinion on the adequacy of the Company’s internal control system.
c. An opinion on the compliance with the law on securities and exchange, the Stock Exchange’s regulations, or the laws relating to the Company’s business.
d. An opinion on the suitability of an auditor.
e. An opinion on the transactions that may lead to conflicts of interests.
f. The number of the Audit Committee meeting, and the attendance of such meetings by each committee member.
g. An opinion or overview comment received by the Audit Committee from its performance of duties in accordance with the charter.
h. The Evaluation of the Audit Committee’s supervision.
i. Other transactions which, according to the Audit Committee’s opinion, should be known to the shareholders and general investors, subject to the scope of duties and responsibilities assigned by the Company’s board of directors.
8. Approve the audit plans of the department responsible for the auditing.
9. Revise and up-to-date the charter of audit committee to comply with the regulations of SET, SEC including the circumstance and appropriation.
10. Provide the opinion from the independent advisor or expert if it is necessary by the Company’s expense.
11. Other act according to the assignment by the Board of Directors of the Company with the audit committee’s approval.
Besides, in order that the carrying out of works under the scope of powers and duties of the Audit Committee be efficient, the Audit Committee has the power to invite the Management, executives, or responsible persons to attend a meeting for clarification of opinions or to send documents deemed to be related and necessary, and has the power to hire an independent consultant or a professional expert in the case of necessity, or to make any other spending as related to the carrying out of duties, whereby the Company will be responsible for such expenses.