Ratchaburi Electricity Generating Holding PCL.
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Reviewing internal control sufficiency to ensure efficiency and effectiveness in overall
operations, enabling the Company to achieve its goals
Ensuring that the Company fully conforms with Securities and Exchange Law, rules and regulations
of the Stock Exchange of Thailand, and laws related to the Company’s business operations
Reviewing items that may involve conflict of interest and ensuring that they comply with laws and
regulations issued by the Capital Market Supervisory Board and related bodies. Related
transactions or items that may involve conflict of interest were reported to the Audit Committee
for approval before it was forwarded to the Board of Directors for consideration. The Company’s
Management reported major transactions to the Board on quarterly basis.
Reviewing information on risk management system and having received the Risk Committee’s
report. Significant risks related to the Company’s business are reported in the Annual Report.
Reviewing the internal audit activities by approving annual audit plan to ensure efficiency and
effectiveness, acknowledging the audit report, providing opinions on effective internal control
to prevent and reduce possible risks, and making recommendations on improvement monitoring
in order to secure appropriate and effective internal control activities
In summary, the Audit Committee considered that the financial statements prepared by
the Company and its subsidiaries clearly meet with generally accepted accounting standard, that
the information disclosure is sufficient, accurate, complete and reliable, that the internal control is efficient
and sufficient to prevent corruption and conflict of interest and that all departments have clear roles
and responsibilities. No significant weakness was found, which is in line with the auditor’s assessment
report. The operations of the Company and its subsidiaries fully comply with the laws regulating
the Securities and the Stock Exchange of Thailand, the Stock Exchange of Thailand’s regulations or other
related laws.
The Audit Committee agreed to appoint Mr. Waiyawat Kosamarnchaiyakit (C.P.A. (Thailand) No. 6333)
or Mr. Charoen Phusamritlert (C.P.A. (Thailand) No. 4068) or Mr. Ekkasit Chuthamsatit (C.P.A. (Thailand)
No. 4195) of KPMG Poomchai Audit Limited as the auditors for the Company and its subsidiaries in
2014 with the audit fee of Baht 2,190,000 (including out-of-pocket expense) in total of which
Baht 810,000 is the audit fee for the Company. The Audit Committee proposed such appointment and
determination of the auditor’s remuneration to the Board of Directors for further consideration and
approval by the shareholders at annual general meeting of shareholders.
Capt. Siridech Julpema
Chairman of the Audit Committee
