Page 114 - MONO_AR_2016_EN

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, nance, and organizational management. Name and attendances at meeting of each member of the Audit Committee is shown in the table below:
Name
Position
Attendances / Total of meetings (Times)
1. Mrs. Punnee Worawuthichongsathit 2. Mr. Preecha Leelasithorn
3. Mr. Kriengsak Thiennukul
Chairperson of Audit Committee 5/5 Member of Audit Committee 5/5 Member of Audit Committee 5/5
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. The committee also conducted self-assessment for evaluating their performance annually. In 2016, the Audit Committee held 5 meetings, including discussions between the Audit Committee and the management, the external auditor, and the internal auditor. There was also non-executive session that only the Audit Committee and auditors attended the meeting. In addition, the Audit Committee discussed with other committees such as Risk Management Committee and Nomination and Remuneration Committee.
Duties of the Audit Committee can be summarized as follows:
1. To review the Company’s quarterly and annual financial statements of 2016 and consolidated nancial 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 nancial statements. Also, adequate nancial information was disclosed in a timely manner. The Audit Committee agreed with the external auditors that the nancial statements were accurate and in accordance with nancial reporting standards. The Audit Committee considered the auditing results with external and internal auditors independently to hear clari cation, ndings, 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 laws, SET regulations, and SEC’s requirements. The external auditors had an opinion that such transactions and related party transactions were completely disclosed in the notes to the nancial statements. The Audit Committee agreed to the external auditors and also viewed that such transactions were in line with the related requirements and bene cial to business operations of the Company and subsidiaries.
3. To review the internal control, internal audit system, risk management as well as corruption risk prevention.
The Audit Committee had worked in collaboration with auditors and the Head of Internal Audit Unit to quarterly review the internal control and audit system so that the measures were adequate and met the established objectives by
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