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EN_Tipco_Annual Report 2014

TIPCO FOODS PUBLIC COMPANY LIMITED PAGE 062/ 063 edgement and commitment to comply with these business ethics every 2 years. It is the management’s duties to ensure that all employees under their supervision strictly comply with the relevant obligations. Employees demon-strating non-compliance with the Company’s Code of Conduct shall be pe-nalized in accordance with the Company’s regulations. Disclosure and Transparency Corporate Governance Policy To achieve the corporate goals in terms of accountability for functional per-formance and operations, transparency based on the principle of integrity, long-term competitiveness, and strengthening stakeholders’ confidence, the Board of Directors adopted the following good corporate governance policy: 1. The Board of Directors shall be supervised to ensure efficient per formance of duties in accordance with the assigned roles and respon sibilities. 2. Internal control and business risk management systems shall be implemented efficiently and systematically. 3. Guiding framework shall be provided and strategies/business plans reviewed in collaboration with the management. 4. Conflict of interests shall be prevented. 5. All shareholders and stakeholders shall receive equitable and fair treatment. 6. Principles of transparency, integrity and accountability shall be ob served in all business operations. 7. Information, particularly operating results and financial statements, shall be adequately disclosed to stakeholders. 8. The Company’s code of conduct manual shall be made available to directors, the management and all employees for their compliance therewith. 9. CSR activities shall be implemented in concrete forms. The management adopted the policy and communicated it across the orga-nization to ensure correct understanding and compliance on the part of em-ployees. The Board of Directors’ Responsibilities Yearly, the Board of Directors shall consider revision of the good corporate governance policy on a yearly basis with a view to achieving corporate goals, accountability for functional performance and operations, transparency based on integrity, long-term competitiveness, strengthening stakeholders’ confidence, alignment with current business environment and practices. In 2009, the Board of Directors passed the resolution to revise item 9 of the good corporate governance policy as follows:” 9. CSR activities shall be im-plemented in concrete forms.” To ensure that employees at all levels correctly understand and comply with


EN_Tipco_Annual Report 2014
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