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Audit Committee

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-21-04 from 16.02.2015, 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:

  • Nadezhda Dimitrova Sandolova - Hristova - Chairman;
  • Vanya Doneva Georgieva - member;
  • Magdalena Georgieva Lateva - 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;
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