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in total. Details are as follows: The Company’s financial statements and the consolidated financial statements: Fee of Baht 1,135,000. Financial statements of 4 subsidiaries: Fee of Baht 1,425,000. 2. Non-audit fee The Company and its subsidiaries paid the non-audit fee of Baht 320,000. 7. Compliance with The Good Corporate Governance Principle – Other Matters Risk Management The previous practice of reviewing risk management every 6 months was changed to review on a quarterly basis. In addition, the Company has adopted an early warning system and regularly reviewed risks to evaluate changes in severity levels and the efficiency of corrective/preventive measures. Early warning signs have been defined more clearly and colour codes have been used to indicate the severity levels such as the red colour signifies high severity. Besides the identification of severity levels, probability and impact of risk have been evaluated. To develop risk management awareness among employees at all levels, team meetings are held daily, department meetings and management meetings are held monthly, and the Business Risk Assessment Subcommittee’s meetings are held semi-an-nually. Furthermore, the Audit Committee assigns the Internal Control Audit Department to examine the practicality of risk management practices and to track progress of issue rectifications on a quarterly basis. Issues which require improvement are reported to the Board of Director meeting by the Audit Committee. Corporate Secretary Relevant officer possessing requisite skills and good knowledge about le-gal requirements as well as rules, regulations and practices stipulated by the Stock Exchange of Thailand and the Securities and Exchange Commission has been appointed by the Company as a corporate secretary and attended training on corporate secretarial practices in 2004. Disclosure of Agenda for Shareholders’ Meetings Disclosure of agenda for shareholders’ meetings shall be made in advance via the Company’s website before submission of relevant documents to the shareholders and at least 30 days prior to shareholders’ meetings. This prac-tice has been adopted since the Annual General Meeting of Shareholders No. 1/2008 which was held on 24 April 2008. ANNUAL REPORT 2014


EN_Tipco_Annual Report 2014
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