approved internal audit plan as well as to scrutinize issues arising from auditing and give recommendations with a view to improve internal audit efficiency and to monitor auditing results on a regular basis. The Audit Committee attaches significant importance to the continuing professional development of internal auditors. Internal auditors are encouraged to engage with their peers in the PTT Group for knowledge sharing, and to seek advanced professional certification available to internal auditors to improve professional competency and performance to meet internationally accepted standards. The Audit Committee also gave priority and promoted the application of IT technology in internal auditing. In 2021, the Internal Audit Office adapted Business Intelligence Analyst’s knowhow to apply CCMS system (P2P, O2C) and in its auditing work to improve auditing efficiency and effectiveness. 5. Review of corporate governance The Audit Committee has stressed the importance of ethical business practices by reviewing and giving opinions on material connected transactions involving related parties or companies as precaution against conflicts of interest. The committee bases its reviews on customary business practices, reasonableness, pricing referenced to reasonable market prices and arm’s length transactions. The reviewing process also cover tips provided by whistleblowers, complaints and monitoring of the handling and resolution of complaints in accordance with good corporate governance as well as to ascertain the full information disclosure in accordance with the rules prescribed by the SET. The Audit Committee also encourages the company and its subsidiaries to maintain and renew their memberships to the Collective Action Against Corruption (CAC) of the Anti-Corruption Organization of Thailand. 6. Review of compliance The Audit Committee has reviewed and provided oversight for the Company’s operations to be in full compliance with laws governing securities and the stock exchange, rules prescribed by the SET, laws relating to industry and the environment along with other laws relevant to the Company’s business operations. The Audit Committee is of the opinion that the company has effective internal control process to ensure full legal and regulatory compliance. 7. Selection and appointment of the Certified Public Accountant for 2021 The Audit Committee is responsible for considering, selecting, nominating, and proposing remuneration, as well as recommending the removal of external independent auditor. This is to ensure the independence of the certified public accountant who has qualifications, expertise and professional skills is never in doubt. Having reviewed the nominated external auditors, the committee approved the nomination of Deloitte Touche Tohmatsu Jaiyos Ltd. for the Board’s endorsement and shareholders’ approval. In addition, the committee examined the other services provided by the external auditor to make sure they do not compromise the auditing independence. In conclusion, in 2021, the Audit Committee performed its duties independently with utmost caution and prudence. The committee gave opinions and recommendations beneficial to the Company. To ensure that IRPC’s financial reports are accurate, complete, and credible, and that the Company has observed good corporate governance, conducted its businesses lawfully and that its risk management and internal control systems proved adequate, efficient, and effective, enabling IRPC to achieve optimal benefits and sustainable growth. (Mr. Somnuk Bomrungsalee) Chairman of the Audit Committee 55 Report of the Audit Committee IRPC PUBLIC COMPANY LIMITED
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