Page 201 - BAM ONE REPORT 2564 (ENGLISH VERSION)

Form 56-1 One Report 2021
Bangkok Commercial Asset Management Public Co., Ltd. 199

Internal Control

1 2 5

Control Environment Risk Assessment
Monitoring Activities

3 4

Control Activites Information
& Communication

Internal Control transparency. Also, they must be well aware that a good
The Company supervises its internal control under internal control system is a vital factor that enables the
the internal control framework specified by COSO (the Company to sustainably operate its business and achieve
Committee of Sponsoring Organizations of the Treadway the established objectives in terms of operational
Commission), and evaluates the sufficiency of its internal efficiency and effectiveness, financial reporting reliability,
control system, using the internal control sufficiency and applicable laws and regulations compliance. The
evaluation form developed by the Office of the Securities overview of the Company’s performance in this regard
and Exchange Commission (SEC). is as follows:

COSO’s internal control framework includes five key 1.1 Determination of annual goals and operation
components: (1) control environment, (2) risk assessment, plans of the Company and each department
(3) control activities, (4) information and communication, as guidelines for devising operational strategies
and (5) monitoring activities. The Company’s internal of the executives and performing duties of
control activities, under each of the aforementioned employees in order to push the Company
components, are as follows: forward to achieve the established vision and
mission.
1. Control Environment 1.2 Determination of the Company’s organizational
The Company is determined to promote among structure, policies, and organization-level and
all of its departments an awareness of the importance overall operation procedures, while making
of internal control system management, by creating an employees recognize and cultivate a good
efficient and effective control environment where all sense of completing the tasks under their
employees must uphold righteousness, fairness and responsibility. In 2021, the Board of Directors