Page 114 - Mono Technology Public Company Limited : Annual Report 2013

Report of Audit Committee

To Shareholders,

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 Company’s regulations that were stipulated
in compliance with the SET’s requirements and has conducted the annual self-assessment for evaluating their
performance. In 2013, 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 were 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 2013, 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 4/4

2. Mr. Preecha Leelasithorn 3/4

3. Mr. Kriengsak Thiennukul 4/4
Duties of the Audit Committee can be summarized as follows:

1. To review the Company’s quarterly and annual financial statements of 2013 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 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.
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 internal audit system to ensure that the adequacy, efficiency and effectiveness of

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