The Audit Committee of GFPT Public Company Limited is composed of three independent directors. Each member of the Audit Committee is an independent and has experience as defined by the regulations of the Stock Exchange of Thailand. As assigned by the Board of Directors, the Audit Committee’s scope of work, duties and responsibilities are to review GFPT and consolidated financial statements in compliance with accounting policy and the criteria and practical guidelines governing the Committee, in line with the regulations of the Stock Exchange of Thailand or other relevant laws. In addition, the Audit Committee is responsible for the accountability in internal control management and good corporate governance in both of financial system and operation system.

In 2010, the Audit Committee held 4 meetings with the auditor and the Internal Audit Department to review the quarterly financial statements and annually financial statements to comply with accounting standards and general accounting policy. The Audit Committee discussed with the auditor to ensure that the Company’s financial statements are accurate and comply with general accounting policy.

To evaluate the internal control system, it can be seen that the GFPT and subsidiary companies had sufficient internal control system. Besides, the Audit Committee also evaluated the risk management on production, marketing, financing and business environment of the company. It found that there is no any significant matter which may has affect on business operation.

In 2011, the Audit Committee considered and proposed Mr. Ampol Chamnongwat or Ms. Wanlaya Puttasatien or Mr. Naris Saowalagsakul from S.K. Accountant Services Co., Ltd. to be the Company’s auditor. However, the appointment of the Company Auditor will be approved by the shareholders in the Annual General Shareholders’ Meeting.