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• Corporate governance (CG): The Committee met with head of the Compliance unit quarterly to review that the
SET governance process complied with SET’s CG policy and Code of Ethics. In addition, the Committee followed
other good CG practices, e.g., by providing a channel for employees and shareholders to direct their complaints to the
Chairperson of the Audit Committee. Such channel has been disseminated through the SET’s website in the section
on “Whistleblowing policy”
• Regulatory compliance: The Committee met with executives responsible for this area and the internal audit unit
to review SET operations in order to ensure that SET operated its business in compliance with related laws and
regulations.
• Performance assessment: The Committee annually assessed itself through the AC Self-Assessment form, which has
been revised to be in line with the Securities and Exchange Commission’s guidelines and international best practice.
• Appointment of external auditors: The Audit Committee reviewed the auditors’ independence and performance in 2012
and recommended to the Board of Governors that PricewaterhouseCoopers ABAS Ltd. (PwC) be re-appointed as SET
Group auditor for 2013 due to their professional practices, experience in discharging their duties and independence,
for approval by the meeting of member companies.
In carrying out the above-mentioned duties and responsibilities, the Committee was of the opinion that SET’s financial
statements were prepared in accordance with Thai Financial Reporting Standards were accurate where it was significant and
gave sufficient disclosure. The Committee further believes that the internal control and risk management systems as
applied were appropriate and adequate, and that operations complied with related laws and regulations. Given this performance,
the Committee reasonably believes that the SET could achieve its business objectives.
(Kaisri Nuengsigkapian)
Chairperson, Audit Committee
February 18, 2013