in GC Group. Providing assurance that the corporate sustainability governance coverages of all business facets in Environmental, Social, and Governance dimensions; fostering confidence in GC’s Sustainability Report; as well as emphasizing on the monitoring and ensuring preparedness at both strategic and operational levels in accordance with New Sustainability Standards and New Regulations, such as The EU’s Carbon Border Adjustment Mechanism (CBAM) ,The International Sustainability Standards Board’s International Financial Reporting Standards (ISSB: IFRS S1 & S2), etc. In 2023, the Audit Committee convened a total of ten meetings. A summary of its key activities is given below. 1. Review of financial reports The Audit Committee oversighted preparation of the Management financial reports in a timely manner and conducted reviews of significant financial information, including quarterly and annual financial statements, items with potential conflicts of interest in and among various business groups, material issues, and special items. Additionally, the Audit Committee communicated with and considered clarifications from the Auditor and the Management on a regular basis to assure that the financial report was accurate, transparent, complete, and reliable, and that the information disclosed in the notes to the financial statements was sufficient and compliant with financial reporting standards and related laws. The Audit Committee thus approved the financial report that had been reviewed, audited, and given unqualified opinions by the Auditor. Upon detecting any anomalies or any suspicious circumstances in the financial statements that may significantly affect the rights of shareholders, the Audit Committee will promptly conduct an investigation along with strengthening internal control system as well as periodically report progress to the Securities and Exchange Commission until the completion of the process. In addition, the Audit Committee reviewed and approved the Non-Assurance Services (NAS) provided by the Auditor to assure that the scope of services would not impact the auditor’s independence. The Audit Committee also had an exclusive meeting with the Auditor without the presence of the Management to independently deliberate the reception and provision of information from the Management, review of significant information for the preparation of the financial report, Key Audit Matters, follow-up on on-time implementation of the new financial reporting standards and also related Sustainability Standards, as well as independence in carrying out their duties and responsibilities. 2. Review of risk management The Audit Committee acknowledged information on the corporate risk management from the report presented to the Board of Directors meeting and reviewed the risk management from the report by the Internal Audit Function, so as to ensure that GC and its subsidiaries had efficiently identified significant risks issues that might impact the company’s operations and had put in place effective risk management, assigned corresponding responsible parties, with appropriate and sufficient risk management measures that comprehensively covered all short- and long-term risks. 3. Review of internal control The Audit Committee conducted a review of the internal control systems of the Company both domestic and international from the internal audit reports, and the progress report by the Management on the Audit Committee’s recommendations and a review of accounting and financial internal controls by the Auditor without any no significant issues or discrepancies that could have an impact on the financial statement. The Audit Committee also reviewed the adequacy and effectiveness of the internal control according to the Securities and Exchange Commission internal control assessment conducted by the Management. The results revealed no significant issues or discrepancies that could have an impact on the Company’s main objectives. This provides reasonable assurance that the Company has adequate, effective, and appropriate internal control system that can support to the business operations to the achievement of the envisioned goals and objectives of the Company and its subsidiaries. 209 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2023
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