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The Audit Committee

Dr. Pisit Leeahtam
Chairman of the Audit Committee
Mr. Thanee Puttipunpluck
Audit Committee
Mr. Suchart Suphayak
Audit Committee
The Audit Committee

The Board of Director established the Audit Committee who is independent from management. The Audit Committee comprises of Independent Directors who are expertise and not relate with Executive and major shareholder.

Members of the Audit Committee are three directors as follows;

  • 1. Dr. Pisit Leeahtam
    Chairman of the Audit Committee
  • 2. Mr. Thanee Puttipunpluck
    Audit Committee
  • 3. Mr. Suchart Suphayak
    Audit Committee

Secretary to the Audit Committee is Ms. Wallaya Watsarujakorn.

Mr. Suchart Suphayak has the qualification and experience as well as having knowledge in corporate financial and accounting to review creditability of the financial reports of the Company.

Scope, Authorities and Duties of the Audit Committee
  1. To review the sufficiency and accuracy in accordance with accounting standards by coordinating with the external auditors and management who is responsible for preparing the quarterly and yearly financial reports. The audit committee may suggest issues or matters to be included for review or audit by the external auditors during its audit of the Company.
  2. To review the adequacy and effectiveness of the internal control systems and internal audit functions by coordinating with the external auditors and internal auditors, and to determine an 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.
  3. To review compliance with the Securities and Exchange Acts, Regulations of the SET, and any other relevant laws.
  4. To consider compliance with all connected transaction disclosures or the conflict-of-interests disclosures, to ensure that they are in compliance with the laws and the Exchange’s regulations.
  5. To consider and advise the appointment, transfer and dismissal of the external auditors including the audit fee by considering the independence, creditability, the adequacy of its resources, the firm's audit engagements, and the experience of its supervisory and professional staff, as well as to attend a non-management meeting with an auditor at least once a year.
  6. To take care of any other matters assigned to it by the Board of Directors, such as reviewing the Company's financial and risk management policies, reviewing compliance with the Code of Corporate Conduct of the management, and reviewing with the Company's management, all important reports which must be disclosed to the public according to the law (e.g. Management Discussion and Analysis (MD&A), etc.).
  7. To report the activities of the Audit Committee in the Company's annual report, which must be signed by the Chairman of the Audit Committee. The following information should be included in the report.
    • Comments on the Company's financial reporting process and the disclosure of its financial information, which must be correct, sufficient, and credible.
    • Comments on the adequacy of the Company's internal control systems.
    • Statements on whether the Company's auditor is suitable for re-appointment.
    • Comments on compliance with the Securities and Exchange Acts, Regulations of the SET, and any other relevant laws.
    • Comments on the related transaction or conflict-of-interests transaction.
    • The number of the Audit Committee meetings, and the attendance of the meetings by each committee member.
    • An opinion or overview comment received by the Audit Committee from its performance of duties in accordance with the charter.
    • Other statements that shareholders and general investors deem to be considered under the scope of the functions and responsibilities assigned to them by the board.

The Audit Committee is directly responsible to the Board of Directors. The Audit Committee is subject to a three years term. Nevertheless, a retiring director is eligible for re-election in accordance with the Board of Directors deems appropriate.