Mandatory audit


The Ordinary General Meeting appoints a certified public accountant (auditor) or an auditing firm every year. The certified public accountant appointed for the regular audit monitors the accounting and management status of the OTE Group during the fiscal year for which such auditor or firm has been appointed to audit, and provides assurance to the Group's shareholders, potential investors, the Board of Directors and other stakeholders that the financial statements are accurate and fairly present the accounts and transactions of the OTE Group.

The certified public accountant has the right, at any time during the fiscal year, to audit any books or accounts of the OTE Group and is obliged, after the end of the fiscal year, to audit the financial statements and to submit a report to the Ordinary General Meeting, in accordance with the law, stating the audit findings. Auditing the financial statements means, at the least, verifying the accuracy and legality of the entries in the books, from which the funds stated therein have derived. The certified public accountant must attend the Ordinary General Meeting to provide any information related to the audit that he/she has carried out.