Monitoring current communication networks and services is an increasingly complex task as a result of a growth in the number and variety of components involved. Moreover, different perspectives on network monitoring and optimisation policies must be considered to meet context-dependent monitoring requirements. To face these demanding expectations, this article proposes a semantic-based approach to support the flexible configuration of context-aware network monitoring, where traffic sampling is used to improve efficiency. Thus, a semantic layer is proposed to provide with a standard and interoperable description of the elements, requirements and relevant features in the monitoring domain. On top of this description, semantic rules are applied to make decisions regarding monitoring and auditing policies in a proactive and context-aware manner. Use cases focusing on traffic accounting and traffic classification as monitoring tasks are also provided, demonstrating the expressiveness of the ontology and the contribution of smart SWRL rules for recommending optimised configuration profiles.