Page 145 - Thailand Post Annual Report 2024

Part 1
Overview of the Organization
Part 2
Business Trends
Part 3
Business Model
Part 4
Strategies and Resource Allocation
Part 5
Risk
Part 6
Corporate Governance
Part 7
Operating Results
Part 8
Other Information
Report on the Performance of Thailand Post Audit Committee
THP Board of Directors appoints the Audit Committee consisting of the qualified directors who have knowledge and experience in various fields, at least one member has knowledge, expertise and experience in accounting and finance. THP Audit Committee consists of :
THP’s Senior Executive Vice President (Internal Audit Office) acts as Secretary of THP Audit Committee.
The Audit Committee performs its duties independently in accordance with the scope of the duties and responsibilities specified in the Audit Committee Charter 2024 approved by the Board of Directors. This is in line with the State Fiscal and Financial Disciplines Act, B.E. 2561 (2018), the Ministry of Finance's Rules Re : Standards and Rules on Internal Audit Operations for State Agencies, B.E. 2561 (2018) and amendments, and the Ministry of Finance’s Manual for Internal Audit Practices of State Enterprise, 2023. The recommendations are provided to create added value for the management of THP and its affiliates to enhance the organization’s performance in order to become a transparent organization with good corporate governance processes while taking into account needs of all stakeholder groups in all aspects.
In 2024, the Audit Committee held 10 meetings with the senior executives, the auditor and the internal auditors on the relevant agenda. All members of the Audit Committee have attended all meetings in accordance with the evaluation criteria for performance of state enterprises. The number of meetings that each member of the Audit Committee has attended is as follows :
1. Seree Nonthasoot, Ph.D.
Chairman
2. Professor Parichart Sthapitanonda, Ph.D.
Member
3. Assistant Professor Somchai Supphatada
Member
No.
List of Audit Committee
Period of office in 2024
Attendance
Percentage
Seree Nonthasoot, Ph.D.
Professor Parichart Sthapitanonda, Ph.D.
1 January - 31 December
10/10
1 January - 31 December
10/10
Assistant Professor Somchai Supphatada
1 January - 31 October
10/10
1
2 *3
100 100 100
Remark * Assistant Professor Somchai Supphatada has left his position of a director, effective from 1 November 2024
In this regard, the THP Audit Committee reports the results of their meetings to the Board of Directors before each subsequent meeting. They summarize the progress of seven key areas, as follows :
1. Risk Management, Internal Control and Good Corporate Governance : A review was conducted on the efficiency and effectiveness of risk management processes to consider appropriateness and adequacy of the risk management affecting THP to cover significant issues, by continuously monitoring the performance of the organization's risk management in 2024. THP operations were reviewed upon considering and evaluating the adequacy of internal control system based on the internal control assessment reports as well as the audit and assessment report that Internal Audit Office has already carried out; the improvement and correction of the internal control issues found from the audit were followed up by both Internal Audit Office and supervisory agency to ensure that THP’s internal control system was appropriate and sufficient. The performance according to the state enterprise performance criteria was reviewed and the compliance with the principles of good corporate governance was encouraged. Moreover, there was one specific meeting with the Corporate Governance, Risk Management and Sustainability Development Subcommittee to discuss business operations, risks and internal control of THP.
Annual Report 2024 143