Page 323 - THAILAND PRIVILEGE ANNUAL REPORT 2025

Throughout fiscal year 2025, the Audit Committee performed its duties within the scope of authority
and responsibilities as prescribed in the Audit Committee Charter, as approved by the Board of Directors, and
in compliance with the Audit Committee Operating Manual for State Enterprises, 2023, issued by the State Enterprise
Policy Office (SEPO), Ministry of Finance. Such duties included the review of good corporate governance practices,
the review of financial statements, the assessment of the adequacy of the internal control system, the continuous
enhancement of internal control processes, and the strict oversight of the Internal Audit function.
In addition, the Audit Committee provided recommendations to the Board of Directors regarding
the appointment of the Company’s Certified Public Auditor, as well as the appropriateness of audit fees.
The Audit Committee recognizes its roles and responsibilities in ensuring that the Company operates
in accordance with the policies of the Board of Directors in an efficient, transparent, and fully auditable manner,
thereby supporting the Company’s continuous development of good corporate governance practices and delivering
the greatest benefit to shareholders and all stakeholders.

Key Performance of the Audit Committee for Fiscal Year 2025
The key performance outcomes of the Audit Committee for fiscal year 2025 are summarized as follows:
1. Reviewed the annual financial statements as of 30 September 2024 and the quarterly financial statements
for fiscal year 2025 of the Company, prior to submission to the Board of Directors for consideration and
approval.
2. Convened separate meetings exclusively between the Audit Committee and the Certified Public Auditor,
in accordance with established guidelines, to consider the auditor’s recommendations regarding the
Company’s internal control system, as well as to discuss relevant matters without management presence.
3. Considered the appropriateness of the appointment of the Certified Public Auditor, including the auditor’s
independence, compliance with professional standards, and the appropriateness of audit fees.
4. Oversaw the Company’s operations in accordance with the principles, regulations, and guidelines related
to good corporate governance as prescribed by the State Enterprise Policy Office (SEPO). The Audit
Committee strictly and continuously adhered to such guidelines and assigned the Internal Audit function
to conduct reviews to ensure that the Company’s practices were appropriate and consistent, thereby
further strengthening the Company’s good corporate governance framework.
5. Considered and approved the scope of work and the annual audit plan, as well as overseeing key activities
of the Internal Audit function, as follows:
5.1 Considered and approved the scope of work and the annual audit plan for fiscal year 2026, and exercised
oversight of the Internal Audit function. This included supervision of internal controls, internal control
processes, and information technology system audits, through risk assessments of systems that may
give rise to errors, in order to support continuous improvement and enhancement of the Company’s
operating systems. The Audit Committee also provided recommendations to the Internal Audit function
on areas requiring improvement to ensure efficient and continuous operations.
5.2 Encouraged the Internal Audit function to arrange for its staff to participate in training programs
organized by the Institute of Internal Auditors of Thailand, the Federation of Accounting Professions,
the Comptroller General’s Department, and other relevant institutions on a regular annual basis.
This was to enhance knowledge of new professional standards and other relevant areas beneficial
to internal audit practices, and to apply such knowledge to further improve the operations of the
Internal Audit function.

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