CHANGE WE CAN BELIEVE IN 5) Considering appointing directors of direct and indirect subsidiaries or joint venture according to the Companyûs shareholding or shareholders agreements. 6) Considering other matters assigned by the Board of Directors. 2. The Audit Committee comprises of three directors as follows:
Name 1. Pol. Gen. Sereepisut Taemeeyaves 2. Mr. Rutt Phanijpand 3. Mr. Sangiam Santad
Position
Meeting Attendance/Total Meetings
Chairman Member Member
14/15 15/15 15/15
The Audit Committee has duties and responsibilities assigned by the Board pursuant to Notification of the Stock Exchange of Thailand on Qualifications, Scope of Duties of the Audit Committee (No. 1), 1999 and The Good Practices of the Audit Committee as follows: 1) Reviewing the Companyûs financial reporting process to ensure accuracy and adequacy by cooperating with an external auditor and the Companyûs managements responsible for the quarterly and annually financial reporting. 2) Ensuring that the Company has appropriate and effective internal control system and internal audit. 3) Reviewing the performance of the Company to ensure compliance with the securities and exchange law, regulations of the Exchange or laws relating to the Companyûs business. 4) Considering, selecting, nominating and recommending remuneration of the Companyûs external auditor. 5) Determining the disclosure of the Companyûs information in case that there is a connected transaction or transaction that may lead to conflict of interest so as to ensure the accuracy and completeness. 6) Performing any other act as assigned by the Board of Directors with approval of the Audit Committee. For example, reviewing policies on financial and risk management, reviewing managementûs compliance with business ethics, reviewing the Companyûs management important report which must be disclosed to the public according to laws.
32 ANNUAL REPORT 2007 IRPC PUBLIC COMPANY LIMITED