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CORPORATE GOVERNANCE

Audit Committee

The Audit Committee assists the Board of Directors in fulfilling the supervision duty it has assumed vis-à-vis shareholders.

The responsibility of supervision includes inter alia the supervision of financial reporting procedure, the confirmation of financial statements integrity, the supervision of the internal audit system, the internal audit department operation and the annual audit on financial statements by certified accountants, the compliance with the Group’s legal and regulatory operation frame work as well as with the code of ethics established by the Management, including the Group’s Code of Conduct.

In addition, the Committee supervises issues pertaining to the qualifications, the independence and the appointment of independent auditors.

The Audit Committee and the Deputy CEO (DCEO), as supervising bodies of the internal audit department, evaluate its performance and approve the department’s duties and budget.

The Audit Committee acts independently and maintains free and open communication with the ordinary auditors, the internal auditors and the Company’s Management.

 

Regarding the composition of the Audit Committee after the election of the new third person , Mr. Ioannis Arkoulis of Michael by the Ordinary General Meeting dated May 20 th 2021 , and after having confirmed that the requirements set out by the provisions of article 44 of the L.4449/2017 are met , and the appointment by the Board of Directors, of the independent an d non-executive members of the Board of Directors, Ms. Ir ene M. Nikiforaki and Mr. Christos I. Economou, as the independent and non-executive members, who, together with Mr. I. Arkoulis, will form the Audit Committee, the aforementioned members of the Audit Committee , during the Committee ’s meeting on May 28 th 2021 , decided to appoint, Mr Ioannis Arkoulis of Michael as its Chairman. The Company’s Audit Committee was formed as follows:

  • Ioannis M. Arkouli s , Chairman of the Audit Committee,
  • Christos I. Economou of Ioannis, member of the Audit Committee,
  • Irene M. Nikiforaki, member of the Audit Committee.

It is noted that the Audit Committee is an independent committee, since it consists of two independent non-executive members of the Board of Directors and a third person, and has a term starting from its election until the Ordinary General Meeting to be convened in 2022.

Corporate Ethics

Ethics are inherent to our business model and, with a commitment represented at all levels throughout our operation, create the basis of our successful future development.

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