The internal audit within Trastor (for the parent company and its affiliates) is exercised exclusively by the Internal Audit Unit (IAU).
The IAU is operating in accordance with its formal Charter, that is approved by the BoD following Audit Committee’s recommendation. Functionally falls under the Company’s Audit Committee and for administrative issues to the Chief Executive Officer of the Company.
The IAU’s main mission is the monitoring and improvement of the Company’s operations with regard to its Internal Controls System. More specifically, IAU’s main objective is to provide independent, objective and consulting services designed to add value and improve the Company’s operation. It helps the Company to carry out its objectives by adopting a systematic and disciplined approach in evaluating and improving the adequacy and effectiveness of its Internal Controls System, i.e., the risk management and compliance processes and the corporate governance practices.
The Head of the IAU is appointed by the BoD following the recommendation by the Company’s Audit Committee. IAU Head has the general responsibility for the determination of the strategy and the proper operation of the internal audit function in Trastor based on the legal and regulatory framework and the international best practices. Persons employed in the IAU, are functionally independent and abstain from any kind of executive and operational responsibilities.
Following a decision of the Company’s Board of Directors on 18.05.2015, Ms. Katerina Maniati has been appointed as the Head of Internal Audit Unit.