The Audit Committee is a Committee of the Board of Directors in accordance with the decision of the Annual General Meeting of the Bank dated 22.07.2021 and consists of Non-Executive Members, the majority of whom are Independent, appointed by the Board of Directors.
The Chairman of the Committee, appointed by its members, is an independent member, cannot be the same person as the Chairman of the Board of Directors and the Chairman of the Risk Management Committee and must have the knowledge and experience required to supervise the audit procedures and accounting matters of concern to the Committee. At the same time, the Committee as a body must have the expertise to and experience required to perform its duties, including its knowledge of the wider operating environment of the credit institution and of the IT systems.
The operation of the Commission is regulated by the current legislative and regulatory framework (including Law 4449/2017, Law 4706/2020, Act of the Governor of the Bank of Greece no. 2577/2006, Act of the Executing Committee of the Bank of Greece no. 158/2019), Act of the Governor of the Bank of Greece no. 2577/2006 and article 44 of Law 4449/2017.
In this context, the members of the Committee were appointed by the Board of Directors at its meeting on 22.07. 2021. The Committee met on 23.07.2021 and was constituted as a body, appointing the Chairman of its Independent Members.
The term of office of the members of the Committee is the same as that of the Members of the Board of Directors (three years).
Composition of the Committee:
Chairperson: |
Iordanis Chatzikonstantinou, Independent, Non-Executive Member |
Members: |
Petros Fourtounis, Vice President, Non-Executive Member Damianos Charalampidis, Independent, Non-Executive Member |
The Committee shall meet regularly, at least once a month and in extraordinary meetings whenever necessary and shall keep minutes of its meetings and shall report monthly to the Board on its proceedings.
The Audit Committee's main responsibilities and the operating methods of the Audit Committee are set out in its Rules of Procedure.
The last revision of the Audit Committee's Rules of Procedure was approved in January 2022.