Report on the Responsibility of the Board of Directors for the Financial Report
Report on the Responsibility of the Board of Directors for the Financial Report The Board of Directors is directly responsible for the company-only financial statements of Chow Steel Industries Public Company Limited, and the consolidated financial statements of Chow Steel Industries Public Company Limited and its subsidiary company, as well as other financial information contained in Annual Report 2013. The financial statements are presented in accordance with generally accepted accounting principles, with regular adoption of appropriate accounting policies and with discretion and reasonable estimation. Important information is sufficiently disclosed in the notes to financial statements for the benefits of the shareholders and general investors. The Board of Directors has put in place and maintained risk management system and internal control system that are efficient and effective to provide reasonable assurance that the accounting data presented is correct, complete and adequate to maintain the Company’s assets and to prevent fraud or significant irregularities. The Board of Directors has appointed the Audit Committee consisting of four independent directors to review the accounting policy and quality of the financial report, examine internal control system and auditing system, as well as disclosure of information on related party transactions. The Audit Committee’s opinions regarding this matter are as presented in the Report of the Audit Committee in this Annual Report. The company-only financial statements and the consolidated financial statements of the Company and its subsidiary have been examined and verified by the Company’s auditor, namely AST Master, Co., Ltd. The auditor’s opinions are as presented in the Auditor’s Report in this Annual Report. The Board of Directors is of the view that the Company’s overall internal control system is well conducted and satisfactory, and able to reasonably assure that the company-only financial statements and the consolidated financial statements of the Company and its subsidiary for the year ended 31 December 2013 expressed accurate financial position and performance in accordance with generally accepted accounting principles, laws and other relevant rules and regulations.
Pruchya Piumsomboon, Ph.D., P.E. Chairman
Anavin Jiratomsiri Chief Executive Officer
Annual Report 2013
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