Audit Committee

The Audit Committee is a committee of the company’s Board of Directors and is staffed by three independent non-executive members, one of whom is appointed as Chairman. The Committee as a body has the skills and knowledge required to fulfill the responsibilities assigned to it by the Board of Directors, while at least one member has sufficient know-how and experience in accounting and auditing issues.
The main purpose of the Audit Committee is to support the Board of Directors in terms of its responsibilities, which concern:

  • The overview of the adequacy of the Internal Control and Risk Management System and the process of monitoring compliance with laws and regulations.
  • The overview of the financial information process and the assurance of the integrity of financial statements.
  • The selection, as well as the monitoring of the performance and independence of External Auditors.
  • Monitoring the efficiency and performance of the Internal Audit Unit.