Integrity of Financial Reports Assurance
The Audit Committee consists of three members. Two of them are non-executive members and one independent member. One member of them has also the appropriate practical experience in accounting and finance. The management quarterly assembles and holds meets with the external auditor and the internal auditor. During 2016, all decisions of the Board of Directors were supporting the recommendations of the Audit Committee. The most important tasks of the Audit Committee are auditing the periodic financial statements and recommending to the Board of Directors regarding appointing or reappointing external auditors, assessing the adequacy of the internal control systems applied within the Company, supervising the internal auditing and following up the independence of external auditors.