Audit

Duties and Responsibilities

1. Review and reassess the adequacy of the Audit Committee Charter annually in accordance with PTT strategic objectives. Final approval of the charter resides with PTT Board of Directors. 
2. Review the effectiveness and efficiency of governance, risk management and control processes.
3. Review and ensure that PTT financial statement is appropriate and in accordance with the accounting standards.
4. Review and ensure that PTT business processes are in accordance with the Securities Law, the Stock Exchange’s regulations, policy, rules, ordinances, the Articles, the Cabinet Resolutions and the relevant laws.
5. Review and ensure that PTT internal audit system is appropriate including the sufficiency of internal audit budget, resource, and the organizational independence of the internal audit activity.
6. Consider any connected or Conflict of Interest transaction or fraud occurrence that may affect PTT business in accordance with the Stock Exchange’s regulations and rules.
7. Review and ensure that the business processes are in accordance with State Enterprise Assessment Model (SE-AM), including monitoring the implementation of the relevant
   observations / recommendations.
8. Recommend to PTT Board of Directors, the Chief Audit Executive appointment, removal and performance.
9. Recommend to PTT Board of Directors, the external auditor nomination, appointment or termination including its fee.
10. Coordinate with the external auditor and may purpose to review or assess any significant accounting and reporting issues.
11. Receive complaints through the channels and methods identified in PTT’s Rule on Complaints and Whistleblowing against Fraud, Malpractice, Misconduct, and Non-Compliance with Laws or Organizational Regulations
12. Report to PTT Board of Directors, the Audit Committee performance at least one time quarterly. For the fourth quarter, the Audit Committee Annual Report must be prepared and submitted to Responsible Ministry of Government agencies and the Ministry of Finance.
13. Report to PTT Board of Directors, the Audit Committee performance on internal audit activity assessment at least one time annually.
14. Disclose the Audit Committee Annual Report and the external auditor annual fee in the PTT annual report.
15. Either the Chairman or a member of the Audit Committee must attend the PTT annual general shareholder meeting.
16. If competent advice or assistance is needed to perform internal audit activity or other the Audit Committee tasks, the Audit Committee can purpose PTT Board of Directors to appoint any independent consultant or expert. The costs and expenses of such services or invitations shall be on PTT’s account.
17. Inform the CEO, any breach of the Securities Law, the Stock Exchange’s regulations, policy, rules, ordinances, the Articles, the Cabinet Resolutions and the relevant laws to resolve the issue.
18. Meet at least one time quarterly and must hold private meeting with the external auditor at least one time annually.
19. Officially meet with the managements at least one time annually.
20. Perform any designated tasks by the laws or PTT Board of Directors under the Audit Committee duties and responsibilities.

As found in PTT Public Company Limited’s ordinance on the Audit Committee and Internal Audit Unit, B.E. 2021

The Executive Vice President, Office of Corporate Audit (Mr. Chayagorn Learngruenrom) served as Secretary.