Page 51 - TICON Industrial Connection Public Company Limited : : Annual Report 2014 EN
P. 51
Management Statement of Directors Certification of the
Shareholding Corporate Internal Control and Connected Discussion Responsibilities Concerning Financial Accuracy of Auditors
Key Risks Structure Management Governance Risk Management Transactions and Analysis the Companys Financial Report Statements Remuneration
All members of the Audit Committee have knowledge and experience in accounting to review
the financial report process to ensure the reliability.
Roles, duties and responsibilities of the Audit Committee
1. Review the accuracy and adequacy of the Company s financial reports.
2. Ensure that the Company has suitable and efficient internal control system, internal audit,
good corporate governance process and risk management system.
3. Review the efficiency and effectiveness of Information Technology System in relation to the
Internal Control and the Risk Management.
4. Review the Company s compliance with the Securities and Exchange Act, the Stock
Exchange of Thailand s regulations, and the laws relating to the Company s business.
5. Consider the connected transactions, or the transactions that may lead to conflicts of
interests, to ensure that they are in compliance with the Stock Exchange of Thailand s rules
and regulations together with the laws relating to the Company s business.
6. Review risk assessment process and advice risk mitigation measures to the Board. The
management team shall implement such advice.
7. Review and consider with the management on the defects that have been found out and on
the responses from the management.
8. Empower on the auditing and investigating all related party under the authorization of the
Audit Committee and is authorized in hiring an expert so as to audit and investigate in
compliance with the Company s regulations.
9. Consider, select, nominate/discharge and recommend remuneration of the Company s
external auditor. The Audit Committee shall meet privately with external auditor at least
once a year, without the management team being present.
10. Consider scopes of work and plans of the external auditor and the internal audit
department in order to ensure cooperation of both parties and ensure there are reductive
double operations of financial auditing.
11. Coordinate with the Company s auditors and may advise them to review in any significant
transactions.
51
Annual Report 2014
Shareholding Corporate Internal Control and Connected Discussion Responsibilities Concerning Financial Accuracy of Auditors
Key Risks Structure Management Governance Risk Management Transactions and Analysis the Companys Financial Report Statements Remuneration
All members of the Audit Committee have knowledge and experience in accounting to review
the financial report process to ensure the reliability.
Roles, duties and responsibilities of the Audit Committee
1. Review the accuracy and adequacy of the Company s financial reports.
2. Ensure that the Company has suitable and efficient internal control system, internal audit,
good corporate governance process and risk management system.
3. Review the efficiency and effectiveness of Information Technology System in relation to the
Internal Control and the Risk Management.
4. Review the Company s compliance with the Securities and Exchange Act, the Stock
Exchange of Thailand s regulations, and the laws relating to the Company s business.
5. Consider the connected transactions, or the transactions that may lead to conflicts of
interests, to ensure that they are in compliance with the Stock Exchange of Thailand s rules
and regulations together with the laws relating to the Company s business.
6. Review risk assessment process and advice risk mitigation measures to the Board. The
management team shall implement such advice.
7. Review and consider with the management on the defects that have been found out and on
the responses from the management.
8. Empower on the auditing and investigating all related party under the authorization of the
Audit Committee and is authorized in hiring an expert so as to audit and investigate in
compliance with the Company s regulations.
9. Consider, select, nominate/discharge and recommend remuneration of the Company s
external auditor. The Audit Committee shall meet privately with external auditor at least
once a year, without the management team being present.
10. Consider scopes of work and plans of the external auditor and the internal audit
department in order to ensure cooperation of both parties and ensure there are reductive
double operations of financial auditing.
11. Coordinate with the Company s auditors and may advise them to review in any significant
transactions.
51
Annual Report 2014
