Page 129 - Mono Technology Public Company Limited : Annual Report 2014 EN

laws, regulations and requirements. The assessment of internal control was conducted according to guidelines of
SEC. The Audit Committee has an opinion agreeable with the external and the internal auditors that the internal
control and risk management of the Company were adequate and appropriate, without significant problems
and weak points seen.

4. To review the compliance with laws governing securities and exchange, business of the Company
and subsidiaries as well as the Companys regulations. Based on the report of the internal auditor,
executives and external auditor, the Audit Committee viewed that there was no significant issues of the
non-compliance with relevant laws or requirements.

5. To review the practice of good corporate governance. The Audit Committee reviewed the corporate
governance policy that the Company arranged in line with the SETs corporate governance guidelines. The
Company arranged the Statements of Business Conducts, Code of Conduct for directors and employees
with fair treatment of all customers, trade partners and stakeholders. Also, the Audit Committee assesses
the Companys compliance with the corporate governance policy according to SETs requirements.

6. To review the internal audit function. The Audit Committee quarterly reviewed the audit results, gave
suggestions and monitored operation and correction as per significant results in the audit report in order to
promote good corporate governance, fraud protection policy, anti-corruption practice and sufficient and
appropriate internal control. The Audit Committee also reviewed and considered approving the revision
of internal audit charter to meet the international standard and fit with the organization. In addition, the
annual budget for employment of the Internal Audit Unit, assessment of independency of the internal
auditors performance, as well as adequacy and appropriateness of internal auditor staff were also
considered. After consideration on those matters, the Audit Committee viewed such issues were
appropriate, without significant weak points.

7. To consider the nomination and appointment of the independent auditors and fix their remuneration
in order to propose the Board of Directors and the 2015 Annual General Meeting of Shareholders to
consider approving. After considering performance, independency and remuneration level, the Audit
Committee agreed to appoint Mr. Supachai Phanyawattano (Certified Public Accountant No. 3930) or
Miss Siraporn Ouaanunkun (Certified Public Accountant No. 3844) or Miss Waraporn Punnopakorn (Certified
Public Accountant No. 4579) of EY Office Limited, to serve as the Company and subsidiaries
external auditor for 2015. The Company will incur audit fees amounting to not exceeding 1,160,000 Baht
(One million, one hundred and sixty thousand Baht) and the Audit Committee shall acknowledge the
audit fee for the Company and subsidiaries consolidated financial statements for 2015 of not exceeding
6,290,300 Baht (Six million, two hundred and ninety thousand Baht).

Within the scope of their duties and responsibilities stipulated by the Board of Directors, the Audit
Committee gives significance to corporate governance, adequate internal control that suit the Companys
business operation by taking into account the acceptable operational risk appetite, accurate and reliable
financial reporting as well as the compliance with laws and regulations related to the Companys business
operation on continuing basis.

On Behalf of Audit Committee
Mono Technology PCL.

(Mrs. Punnee Worawuthichongsathit)
Chairperson of Audit Committee

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