186 O N E R E P O R T 2 0 2 2 OVERVIEW BUSINESS OVERVIEW AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL INFORMATION SUSTAINABLE BUSINESS DEVELOPMENT 6) Any activity in concern with the Anti-Corruption policy shall follow the guidelines on code of conduct, good corporate governance principles, and practice guideline towards stakeholders, relevant rules, regulations, andoperating guidelines, and other guidelines that Asia Aviation and Thai AirAsia may issue in the future. However, for operation clarity in issues that involve high corruption risk, Directors, Management, all employees at all levels shall take extra attention when handle the following issues: Financial or Other Benefits • Directors, Management, and employees shall not personally accept financial or other benefits from customers, business partners, or any persons for working in the name of Asia Aviation and Thai AirAsia. • Directors, Management, and employees shall not lend or borrow, or collect contribution from customers or business partners of Asia Aviation and Thai AirAsia except loans from banks or financial institutions as customers of said banks or financial institutions. Gifts and Hospitality • Directors, Management, and employees shall not accept gifts, in cash or in kind, from customers or business partners of Asia Aviation and Thai AirAsia. • Directors, Management, and employees shall not accept business hospitality from customers, business partners or any persons who may be influential to the business decision. Cash or Other Rewards • Asia Aviation and Thai AirAsia do not have any policy to offer cash, bribery, inducement, or any special rewards in any forms to customers, business partners, other external agents, or any individuals in order to gain business advantages, except customary business hospitality, business discount, and the Company’s sales promotion. Charitable Contribution or Sponsorship • Charitable contribution or sponsorship shall be done in a lawful and transparent manner and follows procedures specified by Asia Aviation and Thai AirAsia. Examination and approval of transaction shall be done by authorised persons of Asia Aviation and Thai AirAsia and follow up shall be done in order to ensure the contribution or sponsorship is used in accordance to its objectives and not as a subterfuge for bribery. Risk Assessment for Corruption Thai AirAsia has set up a corruption risk assessment team, consisting of Head of the Internal Audit, Head of Compliance and Accounting Manager, responsible for defining corruption risk management processes. They will work together to assess, analyse, monitor, control and collect the status of the overall corruption risk to be under the acceptable risk level as well as investigate suspected cases where there is a risk of fraud and prepare a report to present to the Audit Committee every year. Corruption risk assessment tools have been applied according to the guidelines of the Association of Certified Fraud Examiners to assess the internal control environment and various types of fraud that may occur in the Company. In 2022, the team analysed and assessed the risks of the business to identify the operations of parties at risk that may be involved in corruption such as embellishment, forgery or alteration of records or financial documents or reports, misuse or misappropriation of entity assets, conflicts of interest, misuse of internal information of the Company and various forms of corruption, etc. In the past year, the corruption risk was found at an acceptable risk level. The information obtained from the assessment will be used to increase the efficiency and effectiveness of the internal audit guidelines as well as prevention of fraud in the operation by having a good internal control system. Dissemination of Anti-Corruption Policy For every individual in the organisation to be aware of the Anti-Corruption policy, Asia Aviation and Thai AirAsia will perform the following actions: 1) Communicate the Anti-Corruption policy through corporate communication channel, namely the Company’s website, Annual Registration Statement/ Annual Report (Form 56-1 One Report). 2) Provide training on Anti-Corruption policy for new recruits. 3) Review Anti-Corruption policy annually. Report of Interest The Company has required Directors, executives and employees to report their own interests and those of related persons when starting their positions or when there is a change in various information. Directors have to present their stakeholder reports to the Company secretary and the Management and employees to the People Department. Code of Conduct Asia Aviation has operated its business in adherent to strict business ethics, including safeguarding Asia Aviation’s and its subsidiary’ confidentiality, abiding laws, operating in an honest and prudent manner, paying respect to each other, and taking good care of Asia Aviation’s properties and the environment. All Directors, Management and employees shall oblige by this guideline. All Directors and new recruits shall receive a business ethics manual that they have to acknowledge and strictly follow. The Company has disclosed its complete Code of Conduct on the Company’s website www.aavplc.com, under title “Corporate Governance”, under subtitle “Corporate Governance Policy and Download” and under subtitle “Code of Conduct”.
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