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About CPF

Audit Committee

As of 11 May 2017, the Audit Committee comprises four independent directors, as follow:

01

Dr. Chaiyawat Wibulswasdi

Chairman of the Audit Committee

02

Emeritus Professor Supapun Ruttanaporn

Member of the Audit Committee

03

Professor Dr. Pongsak Angkasith

Member of the Audit Committee

04

Mr. Rungson Sriworasat

Member of the Audit Committee

Roles and Responsibilities of the Audit Committee

  • to review the Company's financial reporting process to ensure that it is accurate and adequate;
  • to review the Company's internal control system, internal audit system and risk management system to ensure that they are suitable and efficient;
  • to review the Company's compliance with the law on securities and exchange, the regulations of the Stock Exchange of Thailand and the laws relating to the Company's businesses;
  • to determine the independence of the Internal Audit Office, as well as to approve the appointment, transfer and dismissal of the Head of Internal Audit Office;
  • to consider, select and nominate independent persons to serve as the Company’s external auditors, to dismiss the Company’s external auditors, to propose their remuneration and to attend the meeting with the external auditors, without the management in attendance, at least once a year;
  • to review related-party transactions and any transactions that may involve a potential conflict of interest so as to ensure that they are in compliance with the law and the regulations of the Stock Exchange of Thailand, and are reasonable and in the best interests of the Company;
  • to prepare a report of the Audit Committee which is signed by the Chairman of the Audit Committee and published in the Company’s annual report. This report must contain at least the following information:
    • 7.1 a commentary on the accuracy, completeness and creditability of the Company's financial report;
    • 7.2 a commentary on the adequacy of the Company's internal control system;
    • 7.3 a commentary on compliance with the law on securities and exchange, the regulations of the Stock Exchange of Thailand or the laws relating to the Company's business;
    • 7.4 a commentary on the suitability of the external auditors;
    • 7.5 a commentary on transactions that may involve potential conflicts of interest;
    • 7.6 the number of audit committee meetings and the number times of attendance at such meetings by each audit committee member;
    • 7.7 a commentary or overview of the Audit Committee on the performance of its duties in accordance with the audit committee charter; and
    • 7.8 the details of any transactions which, in the Audit Committee's opinion, should be known to shareholders and general investors, provided that this must be within the scope of duties and responsibilities assigned by the Board of Directors.
  • to perform any other acts as assigned by the Board of Directors with the approval of the Audit Committee.

In performing its duties within the scope specified above, the Audit Committee shall be directly responsible to the Board of Directors. Nonetheless, the Board of Directors shall remain responsible to third parties for the acts of the Company.