Page 126 - Annual Report 2015 - Mono Technology Public Company Limited

Report of Audit Committee
The Board of Directors of Mono Technology Public Company Limited appointed the Audit Committee which is 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 Company’s regulations that were stipulated in compliance with the SET’s requirements and has conducted self-assessment for evaluating their performance annually. In 2015, the Audit Committee held four 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 2015, the attendance at meetings of each member of Audit Committee is shown in the table below:
Audit Committee
Duties of the Audit Committee can be summarized as follows:
1. To review the Company’s quarterly and annual financial statements of 2015 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 are accurate, 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, SET regulations and SEC’s 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.
Attendances / Total of meetings (Times)
1. Mrs. Punnee Worawuthichongsathit
2. Mr. Preecha Leelasithorn
4/4
3/4
3. Mr. Kriengsak Thiennukul
3/4
126
Mono Technology Public Company Limited