Page 115 - Mono Technology Public Company Limited : Annual Report 2013

the internal control that meet the established objectives by consideration of enterprise risk management
to ensure to have resources efficiency, appropriate asset maintenance, reliable financial reporting and compliance with
relevant 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 Company’s 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 SET’s 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 assessed the Company’s compliance
with the corporate governance policy according to the SET’s 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 auditor’s 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 2014 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 Prapasirikul (Certified Public Accountant No. 4579) of
Ernst & Young Office Limited, to serve as the Company and subsidiaries’ external auditor for 2014. The Company will incur
audit fees amounting to not exceeding 1,060,000 Baht (one million and sixty thousand Baht) and the Audit Committee
shall acknowledge the audit fee for the Company and subsidiaries’ consolidated financial statements for the year 2014

of not exceeding 5,350,000 Baht (five million three hundred and fifty 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 Company’s 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 Company’s business operation on continuing basis.

On Behalf of Audit Committee

Mrs. Punnee Worawuthichongsathit

Chairperson of Audit Committee
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