An independent Audit Committee operates at Latvenergo AS and is accountable for its operations and performance to the Supervisory Board of Latvenergo AS. Having evaluated the necessary competencies, professional experience and adherence to the requirements of the Financial Instrument Market Law, the Shareholders' Meeting of Latvenergo AS elects five members to the Audit Committee for a term of office of three years. Three members of the Audit Committee are independent specialists who are not engaged in the operational activities of the Group.
The tasks of the Audit Committee include monitoring the financial report drafting processes, monitoring the efficiency of the risk management system and internal controls, monitoring the Internal Audit and the operation of the certified auditor, as well as monitoring the implementation of the Fraud Risk Management Plan.
The composition of the Audit Committee:
Torben Pedersen, Chairman of the Audit Committee
Svens Dinsdorfs, Member of the Audit Committee
Andris Ozoliņš, Member of the Audit Committee
(Chairman of the Supervisory Board of Latvenergo AS)
Andris Liepiņš, Member of the Audit Committee
(Deputy Chairman of the Supervisory Board of Latvenergo AS)