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Annual Report
2015
policy” topic. In 2015, the Committee also reviewed the SET’s
Anti-corruption guideline to ensure that it was complied with
best practice of the Private Sector Collective Action Coalition
Against Corruption Council (CAC).
Regulatory compliance
The Committee met with the management teams
responsible for regulatory compliance and internal audit to review
and exchange views to ensure that SET operations complied
with laws and regulations.
Performance self-assessment
The Committee assessed itself and reported the results to
the BoG on an annual basis. The 2015 results indicated that the
Committee’s performance completely fulfilled according to its
Charter which was reviewed annually and approved by the BoG.
Appointmentof2016externalauditor
The Committee has the responsibility to recommend to
the BoG the appointment and removal of the external auditor.
In 2015, the Committee reviewed the independence of the
external auditor in providing audit and non-audit services. As
a result of the performances, professionalism, experiences and
independence, the Committee recommended to the BoG that
PricewaterhouseCoopers ABAS Ltd. (PwC) be appointed as the
SET group’s auditor for 2016, for approval by the meeting of
member companies.
In summary, the Committee viewed that SET’s financial
statements were prepared in accordance with generally accepted
accounting principles and were accurate in essence, with
sufficient and proper information disclosure. The Committee
also viewed that the internal control system and risk management
were appropriate and sufficient in compliance with related laws
and regulations. Therefore, the Committee reasonably believed
that SET’s operation could achieve its set objectives.
(Jotika Savanananda)
Chairperson, Audit Committee
February 15, 2016