Monitoring the Usage of Insider Information Board of Directors has realized about defense to be misused by someone with self-exploitation. They are stipulated information conﬁdentiality policy to limit access to information within company for authorized staffs solely. The company informs executives, including executive’s spouses and minor children to report their holding or changing the company’s securities to the Securities and Exchange Commission (the ofﬁce) under the rule and procedures of the Securities and Exchange Act B.E. 2535 section 59 and its punishment of section 275. Also, such mentioned persons as directors, management and employees including their spouse and minor children, are prohibited to make any security transaction; either purchasing, or selling, or transferred by taken advantage of the internal conﬁdential information, which has not yet been disclose to the public. However, in case of the transactions occur in normal business, directors and management including their spouse and minor children, he/she had to report to the ofﬁce within three working days since the event takes place, and copy to documents will be handled to company as evidence. In addition, the company provides ethical policy that director, management and employees are always expected to observe honestly and virtuously and should not participate to any immoral behaviors deteriorating company recognition. If any evidence has shown that company information conﬁdentiality are disclosed by self – exploitation insiders, it’s doomed that such a person is accused of severe disciplinary violation and may be deserved condemnation according to employee regulation.
Internal Control In the Audit Committee Meeting No. 1/2011 held on February 23, 2011, Audit Committee had evaluated the sufﬁcient and appropriated internal control system. This annual evaluation based on summary data of 5 main categories as follows: 1. Organization and Environment 2. Risk Management 3. Management Control 4. Information Technology System 5. Monitoring System The Audit Committee give an opinion that the company’s Internal Control System is sufﬁcient and all of functions work effectively. The 2010 Annual Evaluation Questionnaire of Sufﬁcient of an Internal Control System is submitted to Board of Directors for consideration in the Board of Directors’ Meeting No. 1/2011 held on February 23, 2011. The Company provides effective management and internal control system where executives have contributed to be aware of the importance on internal control by providing effective organizational supervision, deﬁnitely assign roles and responsibilities, including regulations, rules, policies, management level and authorization level in written form. The Company also provides Internal Control Department, whose independently follow-up and evaluate internal control system and report directly to Audit Committee, to review operating systems to meet overall corporate objectives and goals. In previous audit, there are no mistake found that affect internal control substantially. Furthermore, the Audit Committee has frequently organized meetings with our external auditors (KPMG Phoomchai Auditor Ltd.) to review the efﬁciency of company’s internal control and found no signiﬁcantly deﬁciencies in the company’s internal control system.
AREEYA AWARD WINNING ANNUAL CHIC REPORT 2010
Published on Oct 17, 2013