8. Director Fiduciary Duty Check List 9. Good corporate governance principles for listed companies 10. Connected transactions of listed companies 11. Guidance on providing information for listed company management 12. Governance 13. PTT Spirit publication. The President & CEO presents information about PTT relevant information so that they may have an overview of the business operation and performance. At the same time, the above-mentioned documents and handbook for new directors are handed over. 5.18 Succession Planning
Because PTT is a state enterprise, the nomination and appointment of the President & CEO must follow the Standard £ – = & ” ` Article 8 quarter. The Board is to appoint a Nominating ?
” to nominate persons with appropriate knowledge, capability "&& & ” "&& except for the management who are directors by title. They must not be older than 58 years old on the day they submitted the application form. When the Nominating Committee selects appropriate candidates, it submits the results to the authorized person to consider the appointment. The appointment must be done within one year from the day the previous management team member left the position. The hiring contract has a timeframe of up to four years for each term. If the Board wishes to hire the previous management team member after it does not have to go through the nominating process, but it cannot hire such a person for more than two consecutive terms.
PTT Public Company Limited
Annual Report 2011
5.19 Internal Control System
PTT consistently values the internal control system, particularly a system that is comprehensive in scope of activities and dimensions, as well as adequate and suitable business, resource utilization, and stewardship of properties, this system consists of an accurate and reliable accounting > conformance to laws and regulations related to PTT’s business. The Board has assigned the Audit Committee to review the ? Q year. Besides such assessment by the Audit Committee, the President & CEO in recognition of the value of internal controls, has authorized the Risk Management Committee ? Q control standards, together with assessing the outcomes and reporting the overview of PTT’s internal control. Also, the ? control work. PTT has conducted an internal control assessment by � formulation of internal control standards, B.E. 2544 (2001). & ?
control assessment, annually conducted by the management ? 5.19.1 Control Environment
PTT commands a sound overall control environment that ” - Leadership: Executives possess a work philosophy and style characterized by good attitudes and support of a corporate culture, with a focus on integrity and ethics. They are role models and support performance in accounting, information management and human resource management systems, monitoring and assessment, internal audits, and external audits, apart from risk management for key business operation and internal and external audits.