The report of the Pissarides committee proposes:

Greater emphasis on external control mechanisms (sworn auditors) and the supervision of these mechanisms by the state

APPLIED

Evaluation

The provisions of Law 4887/2022 provide for:

The evaluation process, which will be carried out by the Evaluation Committee of article 118 or by a member of the EMPA. or by a member of the Register of Sworn Auditors or may be assigned by the issuance of a relevant ministerial decision to the Intermediary Body of the Operational Program "COMPETITIVENESS AND ENTREPRENEURSHIP" (EFEPAE) or to financial institutions (Article 19).

The utilization of the National Register of Certified Appraisers (EMPA) of the p.d. 33/2011 (A' 83) and the Register of Sworn Auditors - Accountants, which is established by decision of the Minister of Development and Investments following a proposal by the "ELTE" Accounting Standardization and Control Committee. The conditions for carrying out evaluations by Chartered Auditors-Accountants and the establishment of non-conformity regarding these evaluations are also defined (Article 117).

The carrying out of the audits of the investment projects by the members of the National Register of Certified Auditors (EMPE) of the p.d. 33/2011 (Α΄83) or a sworn auditor-accountant or audit firm, at the option of the investment entity (Article 120).

The establishment of the Records Management and Process Control Committee, consisting of five (5) members,
employees of the Ministry of Development and Investments or of the Regions, whose purpose is to examine the applications of prospective assessors and auditors and to make recommendations to the relevant Minister (article 121).

The establishment of a Committee for the Evaluation of Modifications of Inclusion Decisions, which will examine submitted requests for modification of inclusion decisions both for the regimes of this law and for investment projects that have been subject to the previous development laws. The Commission will be responsible for examining the findings of the audit services, as well as imposing sanctions for cases of violation of the obligations of investment entities (Article 123).

Therefore, the proposal is assessed as implemented.

Sources

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