Page 79 - KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED : ANNUAL REPORT 2024

KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED 79

Review of Connected In 2024, the Audit Committee assessed the adequacy
Transactions or Transactions and appropriateness of the Company’s internal

that may have a Conflict of control system in accordance with its quarterly review Operational Highlights and Financial Summary
process, in collaboration with the Internal Audit
Interest Department.

The Audit Committee reviewed connected transactions The Committee considered and approved the
and transactions that may have conflicts of interest, appointment of the Head of Internal Audit, the annual
ensuring that these transactions were reasonable and internal audit plan, the scope of operations, and the
in the best interests of the Company and its shareholders. adequacy of manpower. Feedback on the internal audit
The Committee confirmed that the necessary information department’s performance was also provided to ensure
was disclosed completely and sufficiently. The Audit its effectiveness.
Committee was of the opinion that agreements to enter
into connected transactions or transactions that may The Audit Committee was of the opinion that the Key Milestones
have involved conflicts of interest adhered to standard Company’s internal control system was appropriate and
commercial terms, with no conflicts of interest, and that sufficient for its business operations, and that the
the information had been fully and adequately disclosed. Internal Audit Department had carried out its duties
independently and effectively.
Selection, Proposal for

Appointment of Auditors, In conclusion, the Audit Committee fully discharged its Business Overview
duties as outlined in the Audit Committee Charter, which
and Audit Fees was approved by the Board of Directors. Oversight was

conducted to ensure that financialreports were prepared
The Audit Committee reviewed the selection of and disclosed in accordance with financial reporting

auditors, audit fees, and proposed the appointment standards. The internal control system was reviewed,
of auditors based on their knowledge, expertise, and the supervision of internal audits was carried out
professionalism, and independence. This proposal was to confirm their appropriateness and effectiveness.
presented to the Board of Directors for consideration Additionally, the Committee considered and evaluated

and approval at the Annual General Meeting of connected transactions and transactions that may have Governance Structure and Practices
Shareholders. PricewaterhouseCoopers ABAS Co., Ltd. presented conflicts of interest, ensuring the Company’s
served as the Company’s auditor. operations aligned with principles of transparency and
compliance with relevant laws and regulations.
Review of the Internal Control
System and Supervision of
Internal Audit Operations

The Audit Committee was responsible for evaluating the
effectiveness of the Company’s internal control system, Financial Performance
ensuring that the system was adequate and appropriate
for the Company’s operations, as well as overseeing the
operations of the Internal Audit Department.

On behalf of the Audit Committee

Mr. Prasan Chuaphanich
Chairman of the Audit Committee Sustainable Development