The Internal Audit Department operates according to articles 15 and 16 of law 4706/2020, the Hellenic Corporate Governance Code that the Company has voluntarily adopted (https://www.athexgroup.gr/web/guest/esed) and provisions of the Internal Regulation Charter. Internal Audit Charter that has been approved by the Company’s Board of Directors, describes the responsibilities, duties and obligations of the Internal Audit Department in relation to the above framework.
The Internal Audit Department is an independent organizational unit within the company FOURLIS HOLDINGS SA in order to monitor and improve its functions and policies regarding the Internal Audit System.
Internal Audit System is the set of internal control mechanisms (safeguards) and procedures, including risk management, internal control and regulatory compliance, which continuously covers every activity of the Company and contributes to its safe and effective operation.
The Internal Audit Department adopts the following definition from the International Institute of Internal Auditors and is universally accepted:
"Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes".
Related Documents:
Internal Audit Charter