Audit Committee

Meet The Team

Mr. Pravit  Tantiwasinchai
Chairman of Audit Committee
Independent Director and with accounting or finance experience
First Appointment : December 22, 1999
Last Appointment : November 12, 2021

Asst.Prof. Tippawan Pinvanichkul, Ph.D.
Audit Committee
Independent Director and with accounting or finance experience
First Appointment : August 16, 2019
Last Appointment : November 12, 2021

Ms. Kachen Benjakul
Audit Committee
Independent Director and with accounting or finance experience
First Appointment : November 12, 2009
Last Appointment : November 12, 2021

Audit Committee 's Report

Scope of Duties

Recruitment, Appointment and Term

Report of the Audit Committee

         The Board of Directors of SE-EDUCATION Public Company Limited resolved in the appointment of the Company’s Audit Committee which consists of 3 independent Directors, where 3 of the Directors possess the direct knowledge and understanding or experience in accounting or finance, each member in the Committee possesses the qualifications required by the Office of Securities and Exchange Commission and the Stock Exchange of Thailand.

         In 2022, the Audit committee held 5 meetings. Moreover, The Audit committee also held 1 internal meeting among committee members, independent members, and higher executives involving in accounting, finance, internal audit, in absence of management directors, but, they were well-informed and acknowledged the issues discussed in the meeting.

Name

Position

Number of Meeting

Mr. Pravit Tantiwasinchai

Chairman of Audit Committee

5/5

Asst. Prof. Tippawan Pinvanichkul, Ph.D.

Audit Committee

5/5

Mr. Kachen Benjakul

Audit Committee

5/5

         Audit Committee has performed the duty independently, within a certain authority and capacity limit, required by the Charter of Audit Committee, and assigned by the Board of Directors with the cooperation of all parties involved. The Audit committee understands the significance of internal audit, risk management, good corporate governance to ensure sufficient internal control, adequate and acceptable level of risk management, proper supervision, as well as proper and trustworthy financial report. The Audit Committee had a discussion with the board of management, top executives, internal auditors and auditors every quarter. The works of the Committee in the year 2022 can be summarized as follow:

  1. Review annual financial report for year 2022: The Audit committee has reviewed financial statements on a quarterly basis and annual financial reports for the year 2022 of the Company and its subsidiary prior to submitting the document This includes a proper, timely release of financial information, through cooperative meeting among accounting audit, management, accounting department, and internal audit department in considering the consolidated financial statement on quarterly basis and annual financial report to enquire upon complete, correct practice of generally accepted accounting principle, the selection of accounting policy, and proper openness, including the utilizing the observation suggestions from accounting auditor to improve and correct the preparation of the Company’s financial statement. The Audit committee agreed with accounting auditors that the Company’s financial statement is in accordance with General Accepted Accounting Principles and has disclosed the information accurately and adequately.
  2. Supervision of Good Corporate Governance: The Audit Committee realized the importance of good governance and reviewed the good governance policy of the Company annually. The Committee also encouraged executives and employees to adopt the principle of good governance until it became the culture of the organization. The business is operated on the moral value, transparency and social responsibility. As a result the Company was evaluated excellent in Corporate Good Governance for 15 consecutive years (2008 – 2022) by Institution of Directors (IOD).
  3. Review of risk management: In overseeing the risk management, the Committee
    continued to ensure that the Company and its subsidiary’s risk was at an acceptable level. The Committee reviewed the Company’s risk management plan and acknowledged the report of the risk management practices, periodically. The Audit committee agreed that the Company has risk management at an acceptable level.
  4. Review of abiding of Security and Exchange laws, as well as the regulations stipulated by Stock Exchange of Thailand, and also other related laws related to the Company such as Revenue Code, and Public Company Act: The Audit Committee had reviewed to ensure that law and related regulations of stock exchange of Thailand and other concerned business units are properly abided. Based on the audit committee’ opinion, there was no essential issue related to the issue of violation of laws and regulations stipulated by Stock Exchange of Thailand and other related Government supervision agencies.
  5. Review and provide opinions toward related items and items that may post a possible conflict of interest which includes the afore-mentioned information disclosure: The Audit committee agreed that the Company has disclosed information completely and correctly as said in the regulations of The Securities Exchange of Thailand, and the items are ordinary items that are appropriate and beneficial to the Company.
  6. Review of internal audit control assessment and internal audit: The Committee had reviewed the Company’s internal audit control to ensure that it is properly conducted and sufficiently effective for the usage of resources and business operation. The Audit Committee was reported the operation of the internal audit department in every quarter and gave advice for improvement as well as following up on the areas that need to be developed. The Audit Committee reviewed the audit plan of 2022 and realized there could be risks affected the operation and financial status of the Company. The Committee also emphasized the internal audit as a mean to enhance the business performance, increase revenues and decrease operation cost.
  7. Selecting and Nominating Auditors: The Audit Committee had considered selecting the auditors by considering the auditor in term of independence, knowledge, ability, experience in auditing, a team of auditors in the office, and appropriate compensation. The Audit Committee had considered, selected, and proposed the appointment of auditors to the Board of Directors in the Board of Directors’ Meeting No. 2/2023 on February 24, 2023 to seek approval from the Annual General Meeting of Shareholders to appoint an auditor from Dharmniti Auditing Company Limited as the Company’s auditor in the year 2023.

         The Audit Committee had performed the required duties in accordance with regulations stipulated by authority. Their performance was careful and sufficiently independent. They received good corporations from the management team, employees and all related parties.The Audit Committee agreed that the Company’s directors, managing directors and all employees emphasized on operating effectively, productively, transparently, and reliably under the principle of good corporate governance to provide confidence for shareholders, investors and all related parties.

Mr. Pravit Tantiwasinchai
Chairman of the Audit Committees

Scope of Duties of the Audit Committee  

  1. Ensure the accuracy and adequacy of financial reports.
  2. Ensure the suitability and effectiveness of Internal Control and Internal Audit systems and examine the independence of Internal Audit, including the approval of position transfer, hiring termination of the head of Internal Audit or other division responsible for Internal Audit.
  3. Reassure that the Company has the proper, suffice, and effective risk assessment and management.
  4. Ensure the Company’s practice is in compliance with regulation Security and Exchange Commission and relevant law concerning the Company’s business.
  5. Consider, select and propose the nomination of independent person to perform the duty of the Company’s Accounting Auditor and suggest remuneration for such a person, including: attending the meeting with Accounting Auditors without the presence of management by at least once a year.
  6. Consider related items and disclose them in accordance with the law and regulation of the Security and Exchange Commission. This is to ensure that said items are reasonable and most beneficial to the Company.
  7. Prepare report of Audit Committee and disclose the information in the Company’s Annual Report under which the report be signed by the Audit Committee as follows:
    (a) an opinion on the accuracy, completeness and creditability of the Company’s financial report.
    (b) an opinion on the adequacy of the Company’s internal control system.
    (c) an opinion on the proper, suffice, and effective risk assessment and management system.
    (d) an opinion on the compliance with the law on securities and exchange, the Exchange’s regulations, or the laws relating to the Company’s business.
    (e) an opinion on the suitability of an auditor.
    (f)  an opinion on the transactions that may lead to conflicts of interests.
    (g) the number of the Audit Committee meetings, and the attendance of such meetings by each committee member.
    (h) an opinion or overview comment received by the Audit Committee from its performance of duties in accordance with the charter.
    (i)  other transactions which, according to the Audit Committee’s opinion, should be known to the shareholders and general investors, subject to the scope of duties and responsibilities assigned by the Company’s board of directors.
  8. Take any action as assigned by the company under the approval of Audit Committee.

Recruitment, Appointment and Term of Audit Committee

The Companys Board of Directors appointed the Audit Committee as proposed by the Recruitment & Remuneration Committee in which the consideration criteria is made from Companys Independent Directors and at least 1 Director must have accounting and finance knowledge, with the term of 2 years. The Audit Committee whose term is expired is permitted to be reappointed to the position once again.