Annual Report 2017

67 10. Remuneration for top executives The Nomination and Remuneration Committee also considered the compensation criteria for individual member of other committees, the president and top management, and seek approval from the BoG. The annual performance assessment criteria of the president and other members of top management are clearly defined. It is to benchmark individual actual performance against their respective KPIs, individual compliance with BoG policies, the overall economic and social situation, and historical records. As of December 31, 2017, SET’s top executives consisting of the president, four senior executive vice presidents and 13 executive vice presidents, for the total of 18 persons received the monthly salary, cost- of-living, special reward, bonus and provident fund from SET totaled THB 147,330,412.43. 11. Compensation for External Auditors • Audit Fee: In 2017, The Stock Exchange of Thailand and its subsidiaries paid the audit fee of THB 3,362,000 to the audit firm. • Non-Audit Service Fee: The Stock Exchange of Thailand paid the other service fees of THB 8,411 to the audit firm for the cost of a speaker of the seminar course under the topic of “Basic Knowledge and Strategic Analysis for Effective Investment Decision Making”. The management considered that using the audit firm’s other services apart from an audit work is not regarded as conflict of interest and not self-examined. This did not result in the lack of independence nor impartial in auditing, and has been approved by the Audit Committee. 12. Enhancement plan for the Board of Governors SET gives utmost importance to the continuous and consistent enhancement plan for the governors. The SET governors participate in educational courses and observe business activities of various stock exchanges both in Thailand and abroad in order to enhance their knowledge and broaden their perspectives. For a new governor, SET will provide an orientation of SET operations, strategic plan, business plan and the overall operations of the subsidiaries. New governors will also receive a Board of Governors manual which contains key facts and figures, rules and regulations and other useful information as essential matters for conducting the work as a governor . In 2017, the SET governors attended training and seminars to continuously enhance their understanding of the roles, duties, responsibilities and skills to further benefit the organization, as follows: • A briefing on financial trend and innovation, disruptive products and services, including the guideline to speed up and develop financial technology (FinTech) in accordance with the SET group’s business plan to develop infrastructure of the capital market, attended by all SET governors, in London, England. • A study trip to visit the Frankfurt Stock Exchange in Germany attended by Jotika Savananada, Chaipatr Srivisarvacha, Subhak Siwaraksa, Pichet Sithi-Amnuai, Charnchai Kongthongluck, Voravan Tarapoom and Kesara Manchusree, along with three external experts in the Risk Management Committee members namely Anya Khathavit, Somkiat Sirichatchai and Vachira Arromdee. • The course on Advanced Audit Committee Program (AACP) organized by the Thai Institute of Directors (IOD), attended by Chaipatr Srivisarvacha, Subhak Siwaraksa, Somchai Thaisa-Nguanvorakul (details in the table below); as well as the course on Corporate Governance for Capital Market Intermediaries (CGI), by Jotika Savananada.