Legal

Regulamin Komitetu Audytu Rady Nadzorczej

28 June 20226 pages1,297 words

Summary

This regulatory document establishes the organizational framework and operational procedures for the Audit Committee of the Supervisory Board of PCF Group S.A., a Warsaw-based joint-stock company. The primary purpose of the committee is to monitor financial reporting processes, oversee the effectiveness of internal control and audit systems, and ensure the independence of external auditors. Its scope is governed by the Polish Act on Statutory Auditors, Audit Firms, and Public Oversight, as well as the Best Practices of GPW Listed Companies. The committee is composed of members appointed by the Supervisory Board, with terms aligned with the board's tenure. Key responsibilities include reviewing annual and interim financial statements, recommending the selection of audit firms, and discussing critical audit findings with management and external auditors. To fulfill these duties, the committee is granted broad powers to demand documentation and explanations from the company without mediation from the full Supervisory Board. It also maintains the authority to hire external experts at the company's expense. Operational guidelines mandate that the committee meet at least four times per year. Meetings are convened by the Chairperson, with provisions for electronic notification and emergency sessions. Decisions are made via resolutions passed by an absolute majority of votes, with the Chairperson holding a tie-breaking vote. The committee is required to provide regular updates and an annual written report of its activities to the Supervisory Board to facilitate the board's year-end assessment of the company. Administrative support and operational costs are borne entirely by PCF Group S.A.

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