Bangchak’s Board of Directors has laid down measures regarding whistleblowing or concerns about any wrongdoing or misconduct that may lead to fraud involving people in the organization, be they staff or stakeholders. Whistleblowing can also be applied to suspicious financial statements or a lax internal control system. Bangchak has a mechanism to protect staff or whistleblowers by establishing a confidential database accessible only by authorized persons. This is to encourage cooperation from stakeholders in better protecting its interests.
The Internal Audit handles each complaint and categorizes it before forwarding it to the executive vice president to whom the accused report(s)
Verify and compile data
The executive vice president verifies or assigns the superior or head of the unit of the accused to verify the accuracy and adequacy of data and facts
The senior executive vice president informs the President&CEO and reviews the investigation approach, including the necessity of setting a special investigation panel. All this must align with Bangchak’s regulations.
Inform the complainant/whistleblower about the outcome
Once the investigation is over, the outcome and action taken on the accused are to be submitted to the director of the Internal Audit to brief the complainant/whistleblower. All related data are to be filed as confidential.
Report to the Board
The Internal Audit tables a summary of the complaint and the action taken for the acknowledgment of the Audit Committee
Whistleblower protection mechanisms
Set up a database for confidential information of whistleblowers and, if such information is disclosed, set up punitive measures for responsible people. This database must be made accessible to executives at the level of Senior Executive Vice President only. It falls under the authority of the superiors or supervisors of all those accused to give proper directives to protect whistleblowers, witnesses, and those who handed evidence to the investigation to keep them out of danger, trouble, or unfairness due to their making complaints, serving as witnesses, or giving information.
Whistleblowing and Complaint-filing Policy
- Behavior that violate laws, rules, regulations, company regulations, code of conduct, or business ethics by directors, executives, and employees.
- Irregular or fraudulent financial reporting, compromised internal control system.
- Matters affecting the company’s interests or reputation.