It is an internal body for informative and advisory purposes created by the Board of Directors. While it has no executive functions, it has the power to provide information, advising, and make proposals within its scope of action.
It consists of four directors.
The Committee supports the Board of Directors in its supervisory duties by regularly reviewing the preparation of economic-financial and non-financial reporting, the effectiveness of internal controls, and the independence of the auditor, as well as verifying compliance with all the legal provisions and internal regulations applicable to the Company. The Committee is also in charge of submitting proposals regarding the appointment, renewal and removal of the External Auditors, as well as proposals on the terms of their contract, monitoring, and reviewing the internal control and information systems, and overseeing the independence and effectiveness of the internal audit function.
The Committee also analyzes the financial statements of the Company and its consolidated Group, as well as any other financial and non-financial information that the Company is obliged to publish as a listed company. Addtionally, it reviews the relevant changes regarding the accounting policies used and ensures that the Board of Directors submits the financial statements at the Annual General Meeting without reservations or qualifications in the auditor's report.