The Supervisory Board appointed an Audit Committee at the Company, pursuant to Article 128(1) of the Act on Statutory Auditors. The Audit Committee is particularly responsible for the tasks referred to in Article 130(1) of the Act on Statutory Auditors, including for:
- monitoring the financial reporting process;
- monitoring the effectiveness of the internal control, risk management and internal audit systems, also in the scope of financial reporting;
- monitoring the performance of financial audits, in particular audits carried out by audit firms, including any findings and recommendations of the Polish Financial Supervision Authority (KNF) arising from inspections held at the audit firm.
The brief of the Audit Committee is set out in the “Terms of Reference of the Audit Committee of XTPL S.A.” adopted by the Supervisory Board by Resolution No. 5/06/2018 of 5 June 2018.
The Audit Committee consists of 3 (three) members. As at the Prospectus Date, the members of the Audit Committee are:
|Full name||Role at the Audit Committee||Additional competencies of the Audit Committee members|
|1||Wiesław Rozłucki||Chairman of the Audit Committee||Has knowledge and skills in the area of capital markets. Meets the independence criterion *|
|2||Sebastian Młodziński||Member of the Audit Committee||Co-founder of XTPL S.A., a significant shareholder of the Company. Has knowledge and skills relating to the Company’s sector (within the meaning of the Act on Statutory Auditors). He gained this knowledge and skills in 2015–2017 as CEO of the Company.|
|3||Piotr Lembas||Member of the Audit Committee||He has knowledge and accounting skills within the meaning of the Act on Statutory Auditors. He has a degree in finance and accounting and holds CFA designation. For nearly two years, he worked in the financial department of the Adiuvo Investments S.A. Group, where he supported the financial director in the preparation of financial statements to comply with the obligations imposed on WSE listed companies. Meets the independence criterion *|