The company holds 4 regular Board of Director meeting per year with extraordinary meetings as necessary and appropriate. The regular Executive Committee meetings holds every month in order to consider and monitor the performance of operations whether or not it is in accordance with the target sets. In the Board of Director's meeting and Executive Committee's meeting, if the performance of operations does not achieve the target, there will have a resolution to the responsible department to take action for corrections.
In addition, the company has provided the monitoring and checking the operation according to the policy, regulations, ethical standards and the good internal controlling system. The company has assigned the Internal Audit unit to responsible for internal audit according to the audit plan approved by the Audit Committees. If the internal auditor finds any faults or matters that should be improved in the internal control system, they will report to the senior management and responsible executive for corrective action without any delay, and report the inspection results including follow-up report, improvements according to the recommendation of the internal auditor to the Audit Committee every quarter.
The Audit Committee holds 4 regular meeting per year and the Audit Committee reports the audit results to the Board of Directors every quarter.
For the year 2019, the company has improved the Business Ethics, Code of Conduct and Anti-Corruption Policy as well as various measures to be in line with current situation and the actual operation. These will prevent or reduce the risk that leads to corruption or causing errors that may cause serious damage including not using the company's assets in any way. In the event that the internal auditor finds the incidents, the internal auditor must report to the Audit Committee immediately in order for the Audit Committee to report the said incidents to the Board of Directors for corrective action as soon as possible.
The auditor of the company is Mr. Chaiyut Augsuwittaya, the CPA number 3885, which is the auditor of the consolidated financial statements and the company financial statements. For the year ended 31December 2019, the auditor reviewed the company's internal control system to determine the inspection and the scope of operations, and found no significant defects in order to suggest any improvement of internal control in any way.