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Independent auditor’s report

Independent auditor’s report

To the shareholders of Tokio Marine Safety Insurance (Thailand) Public Company Limited

My opinion

In my opinion, the financial statements present fairly, in all material respects, the financial position of
Tokio Marine Safety Insurance (Thailand) Public Company Limited (the Company) as at 31 December
2023, and its financial performance and its cash flows for the year then ended in accordance with
Thai Financial Reporting Standards (TFRSs).

What I have audited

The Company’s financial statements comprise:

 the statement of financial position as at 31 December 2023;
 the statement of income for the year then ended;
 the statement of changes in equity for the year then ended;
 the statement of cash flows for the year period ended; and
 the notes to the financial statements, which include significant accounting policies and other
explanatory information.

Basis for opinion

I conducted my audit in accordance with Thai Standards on Auditing (TSAs). My responsibilities under
those standards are further described in the Auditor’s responsibilities for the audit of the financial
statements section of my report. I am independent of the Company in accordance with the Code of
Ethics for Professional Accountants including Independence Standards issued by the Federation of
Accounting Professions (TFAC Code) that are relevant to my audit of the financial statements, and I
have fulfilled my other ethical responsibilities in accordance with the TFAC Code. I believe that the
audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion.

Responsibilities of management for the financial statements

The management is responsible for the preparation and fair presentation of the financial statements
in accordance with TFRSs and for such internal control as the management determines is necessary
to enable the preparation of financial statements that are free from material misstatement, whether
due to fraud or error.

In preparing the financial statements, the management is responsible for assessing the Company’s
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless the management either intends to liquidate the
Company or to cease operations, or has no realistic alternative but to do so.

The audit committee assists the management in discharging their responsibilities for overseeing
the Company’s financial reporting process.

118 | รายงานประจำาปี 2566 | ANNUAL REPORT 2023