The current Audit Committee consists in 3 members from the Company’s BoD, who have been assigned by the General Assembly pursuant to article 44 of Law 4449/2017.
Audit Committee Members
Sotirios Vardaramatos – Chairman of Audit Committee & BoD (Independent Non-Executive) Member
Graduate of the Department of Economics of the Aristotle University of Thessaloniki. He has been practicing the auditing profession since 1984 and particularly, as a member of the Board of Chartered Accountants (SOL) from 1984 to 1992 and of the Board of Chartered Accountants (SOEL) from 1993 until today. Since 1996, with the rank of Certified Public Accountant, he has been active professionally in the Auditing Company “SOL SA”. in which he is also a shareholder. During his long career as Certified Public Accountant, he was elected, as a regular auditor, by a significant number of companies, listed and unlisted, to audit their annual financial statements and to issue tax compliance audit reports. He also dealt with special audits for the listing of companies on the Athens Stock Exchange, business appraisals and special management audits. Last, but not least, he has long experience in the issues of mergers and acquisitions.
Panagiotis Konstantinou – BoD (Non-Executive) Member
Mechanical Engineer’s Degree from the National Technical University of Athens (NTUA); Post-Graduate Degree (MSc) in Automation Systems from NTUA and in Applied Economics from the Athens University of Economics and Business; additional Industrial Marketing studies in INSEAD, France. He joined SIDENOR S.A. in 2014 and currently acts a Commercial Manager. He was a BoD Member from 2018 until December 2020.
Vassilia Manoli – BoD (Independent Non-Executive) Member
Degree (BSc) in Accounting and Finance from the American College of Greece; Post-Graduate Degree (MBA) in Financial Services from the Alba Graduate Business School. 27-year experience in executive positions in the private sector. She has worked as a Financial Consultant – in the Business Strategy / Development Department of ING Hellas from 1998 until 2005. Since 2005, she has been an executive in Eurobank S.A.
The Audit Committee reports to the Board of Directors. The Audit Committee’s Operation Regulation defines its aim and responsibilities, how it is formed, how often it meets and how its work is evaluated.
The Audit Committee’s role
The Audit Committee’s main role is to assist the Board of Directors regarding the execution of its supervising duties which mainly involve:
- Checking the adequacy of the Internal Audit and Risk Management Systems;
- Supervising and assessing the procedure for compiling and issuing the Company’s financial statements, and their validity;
- Selecting and evaluating the external auditors’ performance and independence, as well as the effectiveness and efficiency of the Internal Audit and Regulatory Compliance;
- Ensuring the effectiveness of accounting and financial systems,
- financial information,
- auditing mechanisms,
- business risk managements systems;
- Ensuring compliance with the legal and regulatory framework;
- Checking the effective implementation of Corporate Governance Principles; and
- Submitting reports on issues arising during the execution of its duties.
In order to carry out is work, the Audit Committee has free and full access to the information it needs during the execution of its duties, and it is provided with the necessary resources for fulfilling its scope, including services provided by external consultants.