Page 324 - THAILAND PRIVILEGE ANNUAL REPORT 2025

6. Reviewed the adequacy and appropriateness of the Company’s internal control systems and activities, based
on the Internal Audit reports, and instructed the Internal Audit function to closely monitor developments
in assigned matters to ensure that management has implemented appropriate corrective actions
and/or improvements to internal controls and preventive measures within the specified timeframe.
7. The Audit Committee performed its duties independently from executive directors and the Company’s
management. The Committee placed significant emphasis on internal control systems to ensure that
the Company maintains good corporate governance and has adequate and appropriate internal controls
commensurate with its business operations. The Audit Committee also regularly reported significant matters
to the Board of Directors, based on reports received from the Internal Audit function throughout fiscal
year 2025.
8. An evaluation of the Audit Committee’s performance for fiscal year 2025 was conducted to ensure that
its duties were carried out effectively, efficiently, and in accordance with good corporate governance
principles. The evaluation was performed using the Audit Committee Self-Assessment Form in accordance
with the Audit Committee Operating Manual for State Enterprises, 2023. The evaluation results were
deemed satisfactory.

Audit Committee’s Opinion
Based on the performance described above, the Audit Committee is of the opinion that:
• Thailand Privilege Card Co., Ltd. has reliable and sound corporate governance practices and has effectively
complied with the laws, regulations, and guidelines prescribed by the State Enterprise Policy Office.
• The Company has adequate overall risk management and internal control systems, and no material
deficiencies in internal control were identified.
Chairperson of the Audit Committee

6.2 Audit Fees of the Auditor
Thailand Privilege Card Co., Ltd. (TPC) paid audit fees in the amount of THB 880,000 to SW Advisory Co., Ltd.
for the fiscal year 2025.
Note: SW Advisory Co., Ltd. is an auditor approved by the State Audit Office of the Kingdom of Thailand.

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