ANNUAL REPORT 2007 รายงานประจำปี - IR Plus

Internal Control
The Company has employed B.K. Audit, the external auditor, to conduct the evaluations and gives
opinion relating to the adequacy and suitability of the Company’s and the Subsidiaries’ internal control system
since July 2005. After an assessment of the Company’s internal controls, the external auditor will report the
result of its review directly to the Audit Committee at least every quarter.
Moreover, the Company also reported the transactions between the Company and its dealer to the
Audit Committee of the Company.
According to the evaluation by B.K. Audit, there was no significant issue that could materially affect the
Company’s internal control system. There was only a small concern regarding how the Company store
documents. Such issued were already reported to the Audit Committee and the Audit Committee has informed
the Board of Directors of the Company who assigned related employees to follow recommendations from
external auditor accordingly.
Furthermore, S.K. Accountant Services Co., Ltd, the Company’s accounting auditor, evaluated the
internal control of Company’s financial statement and reported the evaluation to the Audit Committee. For year
2007, S.K. Accountant Services Co., Ltd. observed and made suggestions concerning the details for financial
statement preparation; for example, deferral report of spare parts balance, lack of asset code for the audit
process, no adjustment for current portion of long term debts. These issues were considered and adjusted
accordingly.
The Audit Committee has considered the auditing result from accounting auditor and aware that most of
the issues are consequences from obsolete computer systems being used. Thus, the Audit Committee
recommended the Company to purchase new computer program which would help improve the operational
efficiency. Currently, the Company has already purchased the new computer system and it is currently being
tested and examined for the accuracy.
In accordance of the Board of Directors’ Meeting No. 2/2008 held on March 24, 2008 with the
attendance of 3 Audit Committee of the Company, the Board of Directors evaluated the Company’s internal
control system which can be summarized as followed:
(1) Organization and environment:
- There is an organization structure which helps management to operate business efficiently
by setting up certain duties for each department
- The Company sets perceptible and measurable business goal as a guideline for employees’
operations. Also, the Company sets policy and regulations regarding business operation.
(2) Risk management: the Company evaluates risk that might effect to business operation, analyzes
and follows up circumstance that may cause potential risk. The Company also sets risk management policy
which includes follow up process.
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