108 1.4 Management’s Discussion And Analysis Summary of Audit Reports 2021, 2020 and 2019 In 2021, the Auditor expressed an unmodified opinion on the Consolidated Financial Statements of the Company and its subsidiaries as well as the Company’s Separate Financial Statements for the year ended 31 December 2021. As regards the information and events which were emphasized, the auditor would like to bring attention to Notes 1.2 and 14.2 to the Consolidated Financial Statements in relation to the the COVID-19 situation which had impacts on several businesses and industries. The situation might bring about uncertainties and might also have impacts on the performance and cash flows of the Group in the future. In view of the situation’s impacts, in preparing the financial statements, the Group chose to use and follow the accounting practice guidelines on the temporary relief measures for entities which give assistance to borrowers impacted by the situation which affected the Thai economy as announced by the Federation of Accounting Professions. Attention should also be paid to Note 4 in relation to the change in the accounting policy from the cost method to the equity method with regard to the disclosure of the list of investments in the subsidiaries and associated companies in the Separate Financial Statements. In this connection, the auditor did not express any modified opinion on the above case. In 2020, the Auditor expressed an unmodified opinion on the Consolidated Financial Statements of the Company and its subsidiaries as well as the Company’s Separate Financial Statements for the year ended 31 December 2020. As regards the information and events which were emphasized, the auditor would like to bring attention to Note 1.2 and Item 3 a) to the Consolidated Financial Statements in relation to the the COVID-19 situation which had impacts on several businesses and industries. The situation might bring about uncertainties and might also have impacts on the performance and cash flows of the Group in the future. In view of the situation’s impacts, in preparing the financial statements, the Group chose to use and follow the accounting practice guidelines on the temporary relief measures for entities which give assistance to borrowers impacted by the situation which affected the Thai economy as announced by the Federation of Accounting Professions. In this connection, the auditor did not express any modified opinion on the above case. In 2019, the Auditor expressed an unmodified opinion on the Consolidated Financial Statements of the Company and its subsidiaries as well as the Company’s Separate Financial Statements for the year ended 31 December 2019. As regards the information and events which were emphasized, the auditor would like to bring attention to Notes 2 and 5 to the Consolidated Financial Statements in relation to the business restructuring and the merger between Thanachart Bank Public Company Limited and TMB Bank Public Company Limited as well as the change in the accounting policy from the cost method to the revaluation method with regard to the disclosure of the value of buildings respectively. In this connection, the auditor did not express any modified opinion on the above case.
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