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Socioeconomic Compliance

Compliance is a fundamental principle underlying every aspect of Banpu Power operation. With a foothold in several countries, it is important that the Company adheres to different regulations at both local and central levels to maintain compliance. Therefore, Banpu Power has established an effective internal control system both as a preventive measure and a tool for performance auditing. The compliance practice at Banpu is divided into phrases, including:

– Self-auditing
– Auditing of the internal control system and compliance with internal policies and regulations
– Auditing of corporate operating standards in comparison with international standards
– Quality assurance review

The company has set up Internal Audit and Corporate Compliance units as the main functions to coordinate compliance tasks and audit compliance. The responsibilities of each unit are as follows.

Corporate Compliance Internal Audit
To promote, monitor and audit corporate compliance and ensure that it is in accordance with external applicable laws and regulations To audit the internal control system and compliance with internal policies, regulations and best practice guidelines

Self-auditing includes an act of issuing a Legal Compliance Obligation List (COL) by compiling all related activities and matters of law that the company must be obliged to. All departments are then required to conduct a Quarterly Self-Assessment Report on their compliance status and submit it to Corporate Compliance on a quarterly basis.

Auditing of the Internal Control System and Compliance with Internal Policies and Regulations
To ensure that the operation of all units complies with the policies, laws, regulations and practice guidelines, the company conducts auditing of performance and the internal control system within the departments and affiliates on a regular basis. This act of internal auditing is carried out to investigate compliance with relevant laws and regulations in accordance with the international internal control practice framework of COSO (Committee of Sponsoring Organizations of the Treadway Commission), which consists of five components: Internal Control, Risk Assessment, Practice Control, Information and Communication System and Tracking System. Additionally, Banpu Power has established an independent internal audit unit that reports directly to the Audit Committee and the Board of Directors to ensure that the company has an effective internal control system and proper supervision of compliance.

Auditing of corporate operating standards in comparison with international standards
Banpu Power has continuously applied international standards to provide products and services that consistently meet the requirements and expectations of customers and other parties concerned. Compliance is one of the aspects needed for the company to achieve the standards and gain trust among the stakeholders.

Country Business Unit Certification(s)
ISO 9001 ISO 14001 ISO 45001 ISO 22301
China Zhouping Power Plant
Zhengding Power Plant
Luannan Power Plant
Thailand Bangkok Office*

*Headquarter in Thailand with Banpu Plc.

Quality Assurance Review (QAR)
The company carries out a review on the quality of its operation and compliance by establishing a Quality Assurance Review (QAR) working group to look into the operating results of Banpu Power’s subsidiaries in each country. At the same time, the QAR working group of each subsidiary is set up to review the quality of all business units located in the country at least once a year.


• Self-auditing for compliance and auditing carried out by independent agencies covering all business units
• Applications called Laws in Hand and Compliance Risk Management have been developed for monitoring and prevention of compliance risks in business operations. Designed to display the results to the executives on a regular basis, the apps integrate tracking systems for Corporate Compliance, Corporate Governance and Risk Management into a unified platform and reduce redundant activities.

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