- Article 280 of the Companies Act: Members of an audit committee may be only supervisory board members who are independent of the entity audited. All members of an audit committee shall be adequately trained for the area of operations of the entity audited. An audit committee shall have the following additional tasks:
- to report to the supervisory board about the results of the statutory audit, including an explanation of how the latter contributed to the completeness of financial reporting and what role was played by the audit committee in the procedure;
- to cooperate with the internal auditor, particularly through mutual provision of information about main issues relating to an internal audit. - Article 281 of the Companies Act: The chairperson of a supervisory board also represents a company upon the conclusion of a contract with the auditor of the annual and consolidated annual report.
- Article 691 of the Companies Act: A fine between €1,000 and €5,000 for an offence shall be imposed on a member of a supervisory board committee if they decide on issues that fall within the competence of the supervisory board or management board.
ENGLISH
Audit Committee
The audit committee of a supervisory board is a body subordinate to the supervisory board. The establishment of an audit committee in no aspect changes the responsibility of a supervisory board as laid down in the legislation.
Its task is to support the supervisory board in areas in which it specialises. The decisions and measures adopted by a supervisory board based on the support provided by the audit committee fall within the responsibility of the supervisory board. An audit committee cannot decide on issues that fall within the competence of the supervisory board. The workers’ council has the right to appoint an employee representative in supervisory board and management board committees.
Good practice recommendations:
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Work priorities for audit committees in 2017/2018 |
Recommendations for audit committees | Self-evaluation Questionnaire for the Audit Committee |
- Global Audit Committee Survey, KPMG, 2014
- Raziskava o spremljanju učinkovitosti sistema upravljanja s tveganji, 2012
- Guidelines on non-financial reporting, 2017
- Guidance for Audit Committees, 2016 - ecoDa in PwC, v sodelovanju z ZNS
- Recommendations for reporting to Supervisory Board, 2014
- Guidance on the Internal Audit Function, 2012 - ecoDa priporočila za notranjo revizijo
- Audit Committee Guidance for European Companies, 2011 - ecoDa priporočila za revizijske komisije
- Auditor selection - Towards best practices, 2013 - FEE Smernice za izbor revizorja
- Joint Statement on the EU Audit Proposals - ecoDa, 2013
- Report - ACCA/ecoDa event on the Audit Reform , 2012
- Reaction to the EU Directive on Audit - ecoDa, 2012
- Reaction to the EU Green Paper on Audit Policy: Lessons from the Crisis - ecoDa, 2010
- Report - ecoDa's Conference: Roundtable discussion on Audit Committees, 2010
