aspects such as collection, usage, security, retention, and disposal of data to ensure appropriateness, efficiency, and business continuity. The work procedure of the commercial units was revised following the restructuring of the Marketing, Commercial and Supply Chain Function in order to establish guidelines and work processes for every unit to achieve transparency, fairness, and unified standards. The approval process for the Approved Customers/Suppliers List (ACL/ASL) was revised to establish a fair and transparent standard for customer qualification assessment. Approval in principles was also sought from the Corporate Credit Committee for the improvement of the process/system to enhance the efficiency of customer selection. Announcements were revised to align with the current structure following the restructuring of the Long Term Innovation and Corporate Venturing Capital (LIC) function into the Innovation Growth Platforms and CVC (IGC) function on August 16, 2023, as detailed below: 1.) The announcements of the Technology Committee were revised, with committee members from LIC amended to IGC. 2.) The announcements of the Long Term Innovation Committee (LTIC) were revised. 3.) The announcements of the Investment Review Committee for corporate venture capital (CVC) research, development, and innovation and the Committee of New Business Development (CNB IC) were revised. Suppliers were encouraged to declare their intent to join the Thai Private Sector Collective Action Against Corruption (CAC). 6. Ensuring appropriate risk management and internal control CSA prioritization was undertaken by assessing process risks and categorized CSA to align with corporate risks as well as risks affecting the effectiveness of key internal controls so as to ensure that GC’s risk assessment and control assessments were efficient, appropriate, and conducive to the achievement of the corporate objectives under the principles of internal control. GC coordinated with external agencies and the management and presented information vital to the discharge of duties of the Audit Committee, such as Deloitte (ESG Reporting Trend) and KPMG (New Global Internal Audit Standard). 7. Maintaining financial credibility and disclosure Financial liquidity was identified as an enterprise risk, and the minimum level of cash reserves and risk management measures were established to address scenarios where financial liquidity falls below the target. Monthly risk assessments and reporting to Monthly risk assessments and reporting to the Corporate Risk Management Department (S-RC) every month were also prescribed. Those risk assessments were integrated into the risk profile which would be reported to the Enterprise Risk Management Committee (ERMC) and the Risk Management Committee at the board level on a quarterly basis. Scenario cases and corresponding measures were established to anticipate and address irregular situations with potential high-level impact on the operating results (Playbook), taking into account the organization’s survival under al l ci rcumstances. Measures for maintaining GC’s financial liquidity were also established. The outcomes were to be regularly assessed and monitored as well as reported at board meetings on a monthly basis. COSO Focus Points were established as guidelines to ensure that respondents of GC’s assessment form considered all relevant control and cover all key topics according to the SEC’s assessment form and the COSO Internal Control Integrated Framework 2013, which would in turn ensure that GC’s internal control was adequate and suitable for the achievement of its objectives and in compliance with the COSO standards. 147 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2023
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