Board of Directors Committees

NIS's Board of Directors has formed the following Committees:

In addition to the committees required by law, the Board of Directors may establish by special decision other standing or ad hoc committees which will deal with issues relevant to the activities of the Board of Directors. A decision of the Board of Directors on the establishment of other committees and the decision on permanent or ad hoc status will be based on the need for better and more efficient management and resolution of complex issues within its competence.

Audit Committee

The main responsibilities of the Audit Committee are:

  • preparing, proposing and checking the implementation of accounting policies and risk management policies;
  • making proposals to the Board of Directors on the appointment and dismissal of persons competent to perform the functions of internal control of the Company and supervision of the work of the internal control of the Company;
  • examining the application of accounting standards in preparing financial statements and evaluation of the contents of financial statements;
  • conducting the election of the Auditor and nomination of candidates for the Auditor, with an opinion on his competence and independence in relation to the Company, as well as overseeing the audit process.

Nominations Committee

the Nominations Committee has the following responsibilities:

  • to propose candidates for membership of the Board of Directors and to give its opinion and recommendation on each candidate proposed;
  • to propose the criteria which candidates for the Board of Directors must meet and to propose on procedures for the appointment of members of the Board of Directors;
  • at least once a year, to report on the adequacy of the composition of the Board of Directors and the number of members of the Board of Directors and to make recommendations on these matters;
  • to evaluate the personnel policy of the company in connection with the appointment of persons to leading positions in the Company.
Remunerations Committee

The responsibilities of the Remunerations Committee are:

  • to prepare draft decisions on the compensation policy for executive members of the Board of Directors;
  • to make proposals on the amount and structure of compensation for each executive member of the Board of Directors and the proposed auditor fees;
  • at least annually to report to the Shareholders Assembly on its assessment of the amount and structure of remuneration for each member of the Board of Directors, and
  • to make recommendations to the executive members of the Board of Directors on the amount and structure of compensation to persons in management positions in the Company.

Section menu

  • Group structure

  • Regulations

  • Company's Regulations

  • Code of Corporate Governance

  • Shareholders Assembly

  • Board of directors

  • CEO

  • Advisory Board of the CEO

  • Shareholders Assembly Board

  • External audit

  • Related party transactions