The Audit Committee supports the Supervisory Board in the monitoring of and supervision over the financial reporting, the internal and external audits and management system at the Bank and its subsidiaries. In particular, this covers the adequacy and effectiveness of the internal control system and the system of risk management and the relations between the Bank and the entity auditing the Bank’s financial statements.
The operations of the Audit Committee are described in more detail in the Bylaw of the Audit Committee of the Supervisory Board of ING Bank Śląski S.A. passed by the Supervisory Board.
In line with the Bylaw, the Audit Committee consists of at least 3 Members of the Supervisory Board, including at least two Independent Members. At least one Independent Member should have qualifications and experience in accounting or financial audit. Currently, there are two Independent Members of the Supervisory Board in the Audit Committee, which fulfils the requirements of the Principles of Corporate Governance for Supervised Institutions.
The Audit Committee meets at least once per quarter. While performing their tasks, the Audit Committee may avail themselves of experts’ assistance.
The composition of the Audit Committee changed in 2017. On 6 October, the Supervisory Board recalled Mr Ad Kas from the Committee and appointed Mr Aleksander Kutela and Mr Norman Tombach as the Committee members.