Page 128 - Mono Technology Public Company Limited : Annual Report 2014 EN

Report of Audit Committee

The Board of Directors of Mono Technology Public Company Limited appointed three independent
directors, with expertise in accounting, finance and organizational management. The Audit Committee of the
Company comprises Mrs. Punnee Worawuthichongsathit- the Chairperson of Audit Committee; and Mr. Preecha
Leelasithorn and Mr. Kriengsak Thiennukul - members of Audit Committee. In addition, Miss Suansri Suankul was
appointed as the Head of Internal Audit Unit and the Secretary to Audit Committee.
The Audit Committee has performed their duties according to the Audit Committee Charter specifying
the scope of duties and responsibilities assigned by the Board of Directors and the Companys regulations
that were stipulated in compliance with the SETs requirements and has conducted the annual self-assessment

for evaluating their performance. In 2014, the Audit Committee held five meetings, including discussions
between the Audit Committee and the management, the external auditor and the internal auditor; and
non-executive session that there was only the attendances of Audit Committee and auditors. In addition,
the Audit Committee discussed with other committees, such as Risk Management Committee and
Nomination and Remuneration Committee. In 2014, the attendance at meetings of each member of Audit
Committee is shown in the table below:

Audit Committee Attendances / Total of meetings (Times)
1. Mrs. Punnee Worawuthichongsathit 5/5

2. Mr. Preecha Leelasithorn 5/5

3. Mr. Kriengsak Thiennukul 5/5

Duties of the Audit Committee can be summarized as follows:

1. To review the Companys quarterly and annual financial statements of 2014 and consolidated financial
statements of the Company and subsidiaries before submission to the Board of Directors for approval. The Audit
Committee inquired and listened to feedback from executives and auditors about the accuracy, completeness
and reliability of financial statements. Also, adequate financial information was disclosed in a timely manner.
The Audit Committee agreed with the external auditors that the financial statements present fairly in all material
respects, in accordance with financial reporting standards. The Audit Committee considered the auditing
results from external and internal auditors independently to hear clarification, findings, recommendations and
feedback of responsible persons.

2. To review related party transactions or the transactions which may have conflicts of interest and
disclosure of such transactions in order to be in compliance with the law and the SET and SECs requirements.
The external auditors have an opinion that such transactions and related party transactions were completely

disclosed in the notes to the financial statements. The Audit Committee agreed to the external auditors
and also viewed that such transactions were in line with the related requirements and beneficial to business
operations of the Company and subsidiaries.
3. To review the internal control and internal audit system as well as risk management. The Audit Committee

has worked in collaboration with auditors and the Head of Internal Audit Unit to quarterly review and revise
the internal control and audit system to ensure that the adequacy, efficiency and effectiveness of the internal
control that meet the established objectives by consideration of enterprise risk management to ensure to have
resource efficiency, appropriate asset maintenance, reliable financial reporting and compliance with relevant

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