Internal Control and Internal Audit Reports and Principles
TAMC is a governmental agency established to quickly, transparently and efficiently resolve the issue of impaired assets belonging to state-owned and private financial institutions. Therefore, we have put great emphasis on internal control in order to avoid possible damages. TAMCís internal control system is implemented in accordance with the Regulation of the Office of Auditor General on Internal Control Standard B.E. 2544 which requires that governmental agencies implement and assess an internal control system and report to the Office of Auditor General, supervisors and audit committees in order to ensure that the internal control is enhanced and reflects changing environment and risks.
TAMC is submitting an internal control report to the Office of Auditor General for the second time in 2005. Our executives had been constantly monitoring compliance to the internal control system in the previous year in order to introduce improvements, reduce possible risks and ensure practicality. This has allowed for a more efficient operation.
Therefore, all parties may rest assured that TAMC has in place an efficient internal control system which is constantly improved to reflect the changing conditions and to ensure maximum benefit to TAMCís operation.