The members of the Audit Committee of "Bulgarian Energy Holding" EAD are elected by the Minister of Energy, in his/ her capacity of representative of the state as the sole shareholder of "Bulgarian Energy Holding" EAD pursuant to Art. 40, Paragraph. 1 and par. 2 in connection with paragraph 1 item 11 of the Supplementary Provisions of the Independent Financial Audit Act.
By Protocol № Е-РД-21-07 from 26.02.2021, issued by the Minister of Energy the following members of the Audit Committee of "Bulgarian Energy Holding" EAD are elected for a term of three years:
- Magdalena Georgieva Lateva - Chairman;
- Elena Angelova Stoilova - member;
- Vanya Doneva Georgieva - member.
The committee has the following powers:
- Monitor the financial reporting process in "Bulgarian Energy Holding" EAD;
- Monitor and express an opinion on the effectiveness of the internal quality control systems and risk management related to "Bulgarian Energy Holding" EAD financial reporting;
- Observe the independent financial audit of "Bulgarian Energy Holding" EAD
- Review the independence of the registered auditor of "Bulgarian Energy Holding" EAD in compliance with the law and the Code of Ethics for Professional Accountants;
- Prepare and conduct the procedure for selection of an independent auditor and recommend selection of a certified auditor to conduct an independent financial audit of "Bulgarian Energy Holding" EAD;
- If irregularities and /or hazardous practices are detected at "Bulgarian Energy Holding" EAD, it shall immediately notify the Board of Directors and the Minister of Energy, giving specific recommendations for their elimination;
