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Form for Report on Names of Members and Scope of Performance

Back Jan 29, 2007

F24-3
Form for Report on Names of Members and Scope of Performance of the Audit Committee

At the Board of Directors meeting of Thoresen Thai Agencies Public Company Limited No. 6/2007 held on January 26, 2007, the Board approved the appointment of the Audit Committee members to replace those whose status as Audit Committee members had ended due to the retirement from the Board of Directors as follows:

1. Dr. Siri Garnjarerndee

2. Ms. Pratana Manomaiphiboon

To be effective on 26 January 2007

1. Names of members of the Audit Committee are as follows :

   
Remaining terms of holding office
Chairman of the Audit Committee: Mr. Bjorn Ostrom
9 months and 16 days
Member of the Audit Committee : Dr. Siri Garnjarerndee
9 months and 16 days
Member of the Audit Committee : Ms. Pratana Manomaiphiboon
9 months and 16 days
Secretary of the Audit Committee Mr. Suwin Chensirikul  

2. The Audit Committee of the Company has the scope of duties and responsibilities, and shall report to the Board of Directors as follows:

1. Reviewing the sufficiency, credibility, and objectivity of the financial reporting process by coordinating with the external auditors and executives responsible for preparing the quarterly and yearly financial reports.

2. Reviewing the appropriateness and effectiveness of internal control systems and internal audit functions by coordinating with the external auditors and internal auditors, ensuring the adequacy of the internal control systems and internal audit functions.

3. Reviewing the adequacy of the company's risk management and ensuring that risk management comply with the guidelines of the relevant authorities and our internal policies.

4. Reviewing the company's business operations and ensuring that there be no conflict of interest, taking into consideration transactions between TTA and subsidiaries or related parties.

5. Reviewing the company's business operations, ensuring that they comply with our regulations and by-laws, related laws, and SET requirements.

6. Considering audit reports and recommendations presented by the external auditors and internal auditors and monitoring the implementation of the recommendations.

7. Considering and advising on the appointment of the external auditors, including the auditing fee, taking into account the auditors' credibility, the adequacy of resources, audit engagements, and experience of its staff assigned to audit the company's accounts.

8. Considering and advising on the appointment, removal, transfer, or dismissal of TTA's Internal Audit Manager.

9. Taking care of any other matters assigned by the Board or any other matters required by the SET or legislation.

The Company hereby certifies that the aforementioned members meet all the qualifications prescribed by the Stock Exchange of Thailand.

 

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M.R.Chandram S.Chandratat
Chairman

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Ms. Nuch Kalyawongsa
Director,Group Finance/Accounting