We aim to be the most preferred non-life insurer in Thailand

To the Shareholders of Bangkok Insurance Public Company Limited
REPORT OF THE AUDIT COMMITTEE
The Bangkok Insurance Public Company Limited Audit Committee comprises 3 independent directors, namely,
Mr. Plengsakdi Prakaspesat (Chairman), Miss Potjanee Thanavaranit (Member) and Dr. Areepong Bhoocha-oom (Member).
The Audit Committee has a three-year term, from November 16, 2008, to November 15, 2011.
The Company’s Board of Directors passed a resolution at its meeting (No.1/2009) on February 27, 2009, to appoint
Mr. Chor.nun Petpaisit, who had gone through the nomination process carried out by the Remuneration and Nomination
Committee, and is regarded by the Committee as being qualified, in accordance with the Company’s requirements, as an independent
director, to sit on the Audit Committee replacing Dr. Areepong Bhoocha-oom, who asked to resign before his term expired.
Mr. Chor.nun’s appointment was effective from February 27, 2009 and his term will be due on November 15, 2011.
In 2009, the Audit Committee convened 4 meetings, attended by the Director and Senior Executive Vice President, Senior
Vice President of Accounting Department and Senior Vice President of Internal Audit Department. It further convened another 2
meetings without the attendance of the Company’s management to implement duties assigned by the Board of Directors as
summarized below:
1. Checking of the Financial Statements. The Audit Committee, along with the Company’s management and
independent auditors, has examined the Company’s quarterly and annual financial statements to ensure that they are accurately
and properly established in accordance with generally accepted accounting standards. Simultaneously, data is sufficiently and
reliably disclosed. In addition, the Committee has made suggestions for an improvement and conducted follow-up checks for the
Company’s benefit.
2. Supervising the Company’s Internal Control System and Performance Corresponding to the
Provisions of Law. The Audit Committee has examined and approved the audit plan of the audit department for 2009,
examined the report on audit consequences based on the plan, as well as made suggestions for the efficiency and effectiveness
of the audit department’s performance, in addition to exchanging opinions and providing advice to the Company’s management in
order to follow up with improvement on significant issues according to an audit report. This is to ensure that the company has a
good internal control system and practices that comply with the relevant laws and regulations.
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