Audit Committee of Tallinna Kaubamaja Group is a body established by the Supervisory Board, the task of which is advising the Supervisory Board in supervision issues.
For that purpose, the Audit Committee will conduct supervision:
- adherence to accounting principles;
- preparation and approval of the financial budget and reporting;
- sufficiency and effectiveness of performing an external audit;
- development and functioning of an internal control system (incl. risk management);
- monitoring of the legality of the Group’s operations. The Audit Committee separately participates in guaranteeing the independence of the process and activities of an external audit, and planning and assessment of an internal audit.
The Audit Committee prepares an annual summary report about meeting the goals sets in the statutes and presents it to the Supervisory Board. The Audit Committee collaborates with the Supervisory Board, the Management Board, internal and external auditors and if necessary, external experts.
The Audit Committee has 5 members, at least half of whom are appointed from among the members of the Supervisory Board. The members are appointed by the Supervisory Board for three years.
The members of the Audit Committee are:
Andres Järving (Chairman); Jüri Käo; Gunnar Kraft; Kaia Salumets and Kristo Anton.