Page 363 - BAM ONE REPORT 2564 (ENGLISH VERSION)

Form 56-1 One Report 2021
Bangkok Commercial Asset Management Public Co., Ltd. 361

Attachment 6 Report of the Audit Committee

Performance Report of the Audit Committee for 2021
The Audit Committee of Bangkok Commercial Asset Management Public Company Limited is appointed by the
resolution of the Board of Directors’ meeting. The Audit Committee is composed of four independent directors, who
are experts from various fields and have sufficient knowledge and experience to perform the duty of reviewing the reliability
of the Company’s financial statements. They include Mr. Vasant Thienhom as the Committee Chairman, and Mr. Yos
Kimsawatde, Mrs. Maneerat Srisaovajati, and Mr. Songpol Chevapanyaroj as the Committee Members.
In performing their duties, the Audit Committee arranged a total of 16 meetings, as follows:
Meeting Attendance
1. Mr. Vasant Thienhom Chairman of the Audit Committee 16/16
2. Mrs. Maneerat Srisaovajati Member of the Audit Committee 16/16
3. Mr. Yos Kimsawatde Member of the Audit Committee 15/16
4. Mr. Songpol Chevapanyaroj Member of the Audit Committee 15/16

Vice President of Internal Audit Department serves as the Secretary to the Audit Committee.

In 2021, the Audit Committee performed the tasks entrusted by the Board of Directors and adhered to the Audit
Committee Charter in their operation. In those meetings, the Audit Committee discussed with the Company’s
management, internal auditors, and the auditor on related matters and reported the results of its operation to the
Board of Directors on a quarterly basis. The highlights of the Audit Committee’s performance are as follows:

1. Review of financial reports
The Audit Committee reviewed the Company’s financial reports on a quarterly basis, semi-annual basis,
and annual basis, with the financial statements being audited or reviewed by the auditor. The Audit Committee then
considered the auditor’s opinion on the financial reports, the accounting policies and significant estimates, the disclosure
of financial statements’ information, the compliance with financial reporting standards, and the analysis of important
financial ratios in order to ensure that the Company’s financial reports are prepared correctly, completely and reliably
and comply with the generally accepted accounting principles.

Moreover, the Audit Committee considered and recommended the annual appointment of the Company’s
auditor. The Audit Committee also held meetings with the auditor, without presence of the management, to discuss
important matters for the preparation of financial reports, the internal control system, as well as any problems and
obstacles in their operation for further improvement and rectification.

2. Review of the efficiency and effectiveness of the internal control system and the governance,
risk management, and compliance (GRC) system
The Audit Committee reviewed the Company’s yearly internal control assessment and the audit report on
the Company’s management and operation processes, and followed up on the progress of corrective actions. The
Audit Committee also provided its opinions or recommendations for prudent internal control and risk and damage
prevention in order to ensure that the Company will have the internal control system, corporate governance system,