Page 111 - Mono Technology Public Company Limited : Annual Report 2013

Internal Control and

Risk Management

Realizing the importance of appropriate internal control which will enhance our business operation
efficiency, the Company established the Audit Committee to review the adequacy and the efficiency of

internal control and audit system. Also, the Committee shall review business operation of the Company in order
to ensure the compliance with securities and stock exchange laws, SET requirements and other law relating
to our business operation.

S.C. Accounting & Business Consultant (1995) Co., Ltd. has been employed to be the internal auditor
of the Company since 2007 to assess our internal control system, report the operating results as well as

monitoring the correction. Such report shall be submitted directly to the Audit Committee and the copy of
report will be quarterly sent to the relevant management. Also, the summarized internal audit report will be
quarterly presented to the meeting of the Board of Directors for their acknowledgement.

According the meeting of the Board of Directors No. 2/2014 held on February 19, 2014 where all mem-
bers of the Audit Committee participating in the meeting, the Board of Directors assessed the internal control

system by discussing with the management and the Audit Committee. The Audit Committee approved the
internal control adequacy assessment form after discussing with the internal auditor based on the assessment
divided into five aspects:

Part 1 Internal Control of the Organization

The Company set clear business goal and work plans, arranged organization structure and delegated

appropriate management authority. To stress emphasis on human resource, the Company prepared the human
resource planning, as well as arranging corporate governance policy for promoting executives and employees
to adhere to such good practices which will lead to internal control adequacy and sustainable growth.

Part 2 Risk Assessment

The Company appointed the Risk Management Committee, consisting of high ranking executives of

Mono Group to be responsible for formulating risk management policy, analyzing and assessing risks, planning
risk management as well as monitoring the compliance with plans.

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