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• an opinion on the accuracy, completeness and credibility of the Company’s financial reports;
• an opinion on the adequacy of the Company’s internal control system;
• an opinion on the compliance with the law on securities and exchange, the regulations of SET, or the laws relating to the Company’s business;
• an opinion on the suitability of an auditor;
• an opinion on the transactions that may lead to conflicts of interest;
• the number of the Audit Committee’s meetings and the attendance at such meetings by each committee member;
• an opinion or overview of comments received by the Audit Committee from its performance of duties in accordance with the charter; and
• other reports which should be disclosed to the shareholders and general investors within the scope of duties and responsibilities designated by the Board of Directors.
7. To review Internal Audit unit’s operations in the following aspects :
• Consider the scope of operations, annual audit plan and budget, and performance of personnel to ensure that they are suitable and aligned with the scope of operations and adequate for supporting the performance of duties of the Audit Committee;
• Consider the appointment, rotation or termination of employment of head of Internal Audit unit;
• Consider the performance report; and
• Consider the independence of Internal Audit unit.
8. Toconsiderandreviewtheauditingrulesandproceduresandensuretheyalwaysfitwithbusinesscircumstances.
9. To report the summary of the Audit Committee’s missions to the Board of Directors.
10. To report the Board of Directors when the Audit Committee finds or suspects any of the following transactions or acts, which could materially affect the Company’s financial position and operating results, in order to take a corrective action within the period of time that the Audit Committee deems fit:
• a transaction which causes conflicts of interest;
• a fraud, unusual practice or material defect in relation to the internal control system; and
• a violation of the law on securities and exchange, the SET’s regulations or the laws relating to the Company’s business.
In the event that the Board of Directors or executives fails to have the corrective action taken within the time period specified in the first paragraph, any member of the Audit Committee may report the occurrence of any such transaction or act specified in the first paragraph to SEC or SET.
Annual Report 2016
Mono Technology Public Company Limited 87