Page 126 - annual report AUCT 2025_Eng

Business Operation and Operating Results Corporate Governance Financial Statements Attachments
system and corporate governance system by applying the international standard frameworks of COSO
(The Committee of Sponsoring Organizations of the Treadway Commission) jointly with the regulatory
guidelines of the Stock Exchange of Thailand and the Thai Institute of Directors (IOD), to ensure that the
Company’s internal control, risk management and corporate governance complete, transparent with
maximum efficiency.
Risk Assessment
The Company realized the importance of risk management which could affect business operations
from both external and internal factors. In this regard, the Company appointed a Corporate Governance
and Risk Management Committee to be responsible to monitor and supervise Company risk in order to
be aligned with the Company’s acceptable target levels. Risk management policies were defined for
everyone to follow. This was done by assessing and managing any risks from both external and internal
factors. This covered risk from all areas such as operational strategies, finances, compliance with laws and
regulations, reputation, and safety from hazards, and disasters including any situation regarding corruption
risk and human rights risks. The operational risk management group is responsible for reporting the results
of the risk assessment to the Corporate Governance and Risk Management Committee and the Board of
Directors to acknowledge and reviewing any changes to external and internal factors that could affect the
corporation every year.
Control Activities
The Company organized internal control measures that complied with the risks and business types
by clearly allocating responsibilities for each position and organizing and reviewing manuals and operational
procedures regularly to fit with corporate structure and present business operations. Especially in the area
of critical risks to prevent and decrease mistakes in areas such as financial transactions, auctions,
procurements and property care. The internal audit division reviewed the operational results in order to
regularly align them with the rules and regulations and the operational manual. This ensured that the internal
control system were sufficient, appropriate and effective. Information technology was also implemented to
enable the business operations to be faster and more effective.
Moreover, the Company stipulated policies, rules and regulations concerning connected transactions
follow the same direction. For example, major shareholders, directors, executives and relevant people were
to be accurate, transparent and fair and consider the Company’s greatest benefit in regards to the regulations
of the Stock Exchange of Thailand and the Securities and Exchange Commission.
126
Annual Registration Statement / Annual Report 2025
(Form 56-1 One Report)