Page 246 - PSTC - One Report 2023 (EN)

Annual Report 2023 (Form 56-1 ONE REPORT)
245
2. Review of connected transactions of the Company or transactions that may have conflicts of interest
The Audit Committee conducted a review of the connected transactions of the Company or transactions that may have conflicts of interest on a quarterly basis, including the previous year’s transactions to ensure that the transactions are entered into in a reasonable manner on an arm’s length basis and that they are ordinary business support transactions which are appropriate, reasonable, and which would be beneficial to the Company, as well as in compliance with the regulations of the Stock Exchange of Thailand and The Securities and Exchange Commission. 3. Review of adequacy and appropriateness of the internal control system
The Audit Committee arranged to put in place internal audit plans for the Company and subsidiries under the Group which are appropriate for the nature of business operations in different phases of the Group companies, including projects in the preparation phase, the construction phase and the commercial operations phase whereby the audit focuses on different areas for each phase in order to ensure, to a reasonable degree, that the Company has an adequate and appropriate internal control system, including the assessment of the adequacy of the internal control system according to the form of The Securities and Exchange Commission of Thailand and the Stock Exchange of Thailand. In this light, the Audit Committee was of the opinion that the Company has an adequate and appropriate internal control system relative to the size and current state of the Company’s business, as well as proper monitoring and control of its operations in a manner that allows the Company to safeguard its assets and that of its Group companies against abusive or unauthorized utilization by board of directors, executives or employees.
4. Review of risk management
The Audit Committee conducted a review of the risk management system overseen by the Risk Management Committee. The Committees monitored the work process of the Internal Audit Department to ensure that the Company’s risk management has an adequate and appropriate internal control system and supports the Company’s objective. 5. Review of compliance with the SEC’s laws and SET’s regulations and other laws related to the Company’s businesses
The Audit Committee reviewed and oversaw that the Company and subsidiries under the Group are in compliance with SEC’s laws, SET‘s regulations and other laws related to the Company’s businesses, including the Company’s Articles of Association, policy and business ethics. The Audit Committee found no indication of any non-compliance and/or practices that conflict with relevant laws and regulations.
6. Appointment of auditors for the year 2023
The Audit Committee considered and selected the auditors of the Company based on the qualifications, independence of the auditor, expertise, experience, performance, scope of audit as well as the appropriateness of the quoted audit fee. The Audit Committee proposed to the Board of Directors’ Meeting to approve the appointment as follows:
Proposed to appoint Miss Pimjai Manitkajohnkit Certified Public Accountant No. 4521, and/or Miss Orawan Techawatanasirikul , Certified Public Accountant No. 4807, and/or Miss Rosaporn Decharkom , Certified Public Accountant No. 5659 , and/or Mrs. Nummon Kerdmongkhonchai, Certified Public Accountant No. 8368 , and/or Miss Wilaiporn Chaowiwatkul , Certified Public Accountant No. 9309 , of EY office limited as the auditor of the Company for 2023
Furthermore, the Audit Committee has the authority to recommend the termination of the Company’s auditor