Page 97 - PSTC - One Report 2023 (EN)

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Power Solution Technologies Public Company Limited
Scope and authority of the Audit Committee
1. Invite the management, executives, or employees of the Company to give opinions, attend meetings, or submit documents as deemed relevant and necessary.
2. Hire consultants or invite individuals with knowledge and ability to provide opinions or advice in supporting the operations as necessary.
3. Review and inspect various issues as necessary for business operations.
Duties and responsibilities of the Audit Committee
The Company’s Audit Committee maintains duties as assigned by the Company’s Board of Directors according to the principles specified in the Notification of the Board of Governors of the Stock Exchange of Thailand as follows:
1. Maintaining an efficient, adequate, and appropriate internal control system
1.1 ReviewtheCompany’sinternalcontrolandinternalauditsystemstoensuretheirappropriatenessand
effectiveness. This includes assessing the independence of the internal audit department and the
Company’s structure for the direct reports of internal audit to the Audit Committee.
1.2 Considerknowledge,ability,experience,andunderstandingoftheCompany’sbusinessatthelevelof
risks and significant issues for auditing.
1.3 Cooperateinplanningtheauditofinternalcontrolsystemwiththeinternalauditdepartment,bothIA
In-house or IA Outsource, by considering the type and level of risks for issues which may affect the Company. In case of high risk, an immediate audit is required along with measures to prevent such risks.
1.4 TheCompanyanditssubsidiaries’internalcontrolsystemmustbecontinuouslyandregularlyreviewed and improved in response to changes in business operations. The Audit Committee must ensure that overall internal control systems are able to detect and prevent any dishonesty and corruption which may occur from the Company’s transactions registered abroad, particularly in the case of significant operations abroad.
1.5 SupporttheCompanytohavechannelsforreceivingcomplaintsorreportinginappropriatebehaviors from whistleblowers, including the implementation of policies or procedures in handling complaints and protecting whistleblowers as appropriate. Thus, the employees and stakeholders can confidently provide information on any issues of concern to the Audit Committee and the internal audit department for prompt and immediate action.
1.6 Incaseofanydefectsorlackofanappropriateinternalcontrolsystemduetoincompliancewiththe rules and regulations in various related issues, the Audit Committee must observe and inquire as to the reasons and scope of auditing from involved individuals.
2. Disclosure of information and preparation of financial reports
2.1 Considertheperformanceoftheauditorsaswellasselectingandnominatingpersonsfortheappointment
as auditors, in line with providing opinions and working with the management in setting the scope of employment to be consistent and appropriate. Also, it is required to consider the independence and abilities of auditors, including the duration of the auditor’s duties for the Company according to the guidelines by the Office of the Securities and Exchange Commission (“SEC”) for the Audit Committee regarding the selection and appointment of auditors.