ANNUAL REPORT 2014 4. Allocate resources and recruit high potential personnel to maximize the Company’s benefits. 5. Promote and develop a strong organizational culture to support the Company’s vision and business growth. 6. Closely monitor the Company’s operations, evaluate performance, and report activities undertaken by the management to the Board of Directors on a regular basis and in a timely manner. 7. Consider, screen and present to the Board of Directors for approval the following matters: policies and business directions of the Company, affairs which may have significant impact on the Company’s business after their implementation, and issues related to compliance with laws and regulations of the Stock Exchange of Thailand. 8. Prepare details of the scope of authority for submission to the Board of Directors for approval. The determined scope of authority is aimed at delegating authority to employees to perform duties and make decisions efficiently while ensuring flexibility and control management. 9. Prepare reports on the Company’s financial status and financial statements for submission to the Board of Directors for consideration and approval on a quarterly basis. Authority and Duties of the Audit Committee 1. Ensure that the Company’s financial reports are correct, in accor- dance with actual facts, complete, adequate and reliable. 2. Ensure that the Company and the management establish suitable and efficient internal control system. The committee may, as appropriate, invite directors, executives or staff members concerned to attend Committee meetings and provide relevant information. 3. Consider, select and nominate an auditor and propose his/her remuneration. 4. Ensure that the Company and the management comply with relevant regulations and laws. 5. Safeguard against conflict of interests. 6. Prepare the Audit Committee’s report which shall be accompany the Company’s annual report. The Audit Committee’s report to be signed by the Chairman of the Audit Committee shall contain opinions on such matters as required by the Stock Exchange of Thailand. Authority and Duties of the Nomination and Remuneration Subcommittee 1. Select and nominate persons who are qualified to assume the position of director in accordance with the Company’s operating regulation on selection and nomination of directors. The Sub-committee shall also consider the performance, qualifications and appropriateness of the directors who retire by rotation and those who are qualified for re-election. The Sub-Committee shall then propose a list of candidates to the Board of Directors for consideration and approval before sub- mitting the list to the Shareholders Meeting for election as directors.
EN_Tipco_Annual Report 2014
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