Page 387 - BAM ONE REPORT 2565 (ENGLISH VERSION)

381

Form 56-1 One Report 2022

3. Monitoring and review of the sufficiency of internal audit process as can be summarized below:
3.1 Reviewing the Internal Audit Department’s Charter and standard operating procedure (SOP) to ensure
conformity with the IIA standards and the internal audit best practice.
3.2 Considering and approving the annual audit plan, long-term audit plan, and annual budget of the Internal
Audit Department with the aim to cover all key risks associated with each operation process (risk-based approach).
3.3 Considering and appointing the Vice President of the Internal Audit Department as Chief Audit Executive
(CAE), as well as considering successors of internal auditors under the succession plan.
3.4 Promoting development of internal audit staff’s knowledge and competence through the annual personnel
development plan, encouraging use of data analytics in audit work, and encouraging the employees to acquire professional
licenses in various internal audit fields, such as CPIAT, CIA, CISA, etc. in order to ensure higher internal audit work
efficiency and compliance with international standards.
3.5 Promoting the use of systems or tools to support internal audit work, such as TeamMate+, data analytics, etc.

4. Maintaining of operational standards of the Audit Committee
The Audit Committee reviewed the Audit Committee Charter to ensure it is appropriate and updated and
conducted self-assessment of the Audit Committee’s performance in accordance with the CGR assessment criteria for
2023 on both committee and individual basis to ensure that the Audit Committee can perform its duties efficiently
and achieve the objectives specified in the Audit Committee Charter.

The Audit Committee has performed its duties under the scope of review and corporate governance as
assigned by the Board of Directors and recognized the significance of the corporate governance principles. The
Audit Committee is of the opinion that the Company has an appropriate and reliable process for preparing
and disclosing information in its financial reports and also has sound internal control, corporate governance,
and risk management systems, and that the Company has in general conducted its business in compliance with
the laws, rules and regulations relevant to its business operation. The Audit Committee has also provided some
important opinions and recommendations for the Company’s further improvement of its operational efficiency.

(Mr Vasan Thienhom)
Chairman of the Audit Committee