Patkol Public Company Limited
Internal Control The audit committee meeting No. 1/2551 on January 25, 2008 carried out the evaluation on the Company没s internal control system and came to the conclusion on the internal control system sufficiency in 5 parts as follows: Part 1. Organization and Environment The goals of the Company没s businesses are set up as clear, possible and measurable. The Company set up the organization structure that facilitates management to carry out efficient performance and achieve their goals and benefits of the Company. The Company also established policies and procedures for financial transactions, procurement, and other administrative operations based on fairness to partners and the Company没s interests. Part 2. Risk Management The Company manages all risks by consistently evaluating both internal and external factors that can be attributed to the cause of such risks and provides risk management measures, including monitoring its planned performance. Part 3. Operation Control of the Management The management没s operations are clearly and independently separated by responsibilities such as approval, accounting and information technology, and assets management. The approval on transactions of the Company with major shareholders, directors, executives, or other related parties to the said will be based on maximum interests of the Company as though of any person in general. Part 4. Information Technology and Communication The Company always provides adequate crucial information as for facilitating decision making of the Board of Directors. The directors will be notified for a meeting appointment or provided necessary and adequate information for consideration 7 days prior to the meeting. Accounting record and other relevant documents will be categorized and filed in accordance with accounting policy under Generally Accepted Accounting Principles and business characteristics appropriateness. Part 5. Monitoring System The Company monitors general operations by comparing to the business purposes. The internal auditor will examine the compliance with the internal control system and directly report to the audit committee and examined parties. Any subject defects will be reported to the audit committee in due course as well as the progress on defect improvement to the management.
Annual Report 2007
As of 31 December 2007
PATKL_2007 PATKOL PCL Annual Report 2007