Members of the Kozloduy NPP EAD audit committee are elected by the Board of Directors of the Bulgarian Energy Holding as the sole owner of the Kozloduy NPP EAD capital in accordance with the requirements of Article 107 para. 7 of the Independent Financial Audit Act.
With Minutes No 60-2024 / 07.06.2024 and No 94-2024 / 25.09.2024 of the Board of Directors, the Bulgarian Energy Holding elected with a three-year term of office:
- Magdalena Georgieva Lateva, Chair
- Svetoslav Ivanov Spasov
- Gergana Nikolaeva Lechova
The committee has the following authorities:
- Monitor the financial reporting process and provide recommendations and suggestions in order to ensure its effectiveness;
- Review and, if necessary, express an opinion on the Company’s accounting policy and its application in the financial reporting;
- Monitor the effectiveness of the internal control system, risk management system and the internal audit activities regarding the financial reporting in Kozloduy NPP EAD;
- Review and express an opinion on the risk management strategy, the Company’s risk register and the annual report on the status of the financial management and control system;
- Express an opinion on the status and number of staff of the internal audit department as well as on the strategic and annual plans for internal audit activities;
- Discuss and accept the annual report on the internal audit activities and, if necessary, its members familiarise themselves with and give opinions on the separate reports of completed audit engagements and on all significant issues related to the internal audit;
- Monitor the mandatory audit of the annual financial reports, including the audit preparation, taking into account the findings and conclusions of the Commission for Public Oversight of the Statutory Auditors on the application of Article 26, para. 6 of Regulation (EU) No 537/2014;
- Pre-approve the provision of non-audit services by the auditor to Kozloduy NPP EAD while notifying the Commission for Public Oversight of the Statutory Auditors and the Company’s Board of Directors of any approval granted under Article 64, para. 3 and Article 66, para. 3 of the Independent Financial Audit Act within 7 days from the date of the decision;
- Report its activity annually to the Board of Directors of the Bulgarian Energy Holding EAD;
- Prepare and submit an annual report on its activity to the Commission for Public Oversight of the Statutory Auditors by June 30.