{"id":25023,"date":"2026-06-25T10:00:27","date_gmt":"2026-06-25T07:00:27","guid":{"rendered":"https:\/\/yknot.gr\/ir\/?p=25023"},"modified":"2026-06-26T14:16:21","modified_gmt":"2026-06-26T11:16:21","slug":"activity-report-of-the-audit-committee-for-the-year-2025","status":"publish","type":"post","link":"https:\/\/yknot.gr\/ir\/activity-report-of-the-audit-committee-for-the-year-2025\/","title":{"rendered":"Activity Report of the Audit Committee for the Year 2025"},"content":{"rendered":"

AUDIT COMMITTEE<\/strong><\/p>\n

ACTIVITY REPORT FOR THE FINANCIAL YEAR 2025<\/strong><\/p>\n

    \n
  1. Introduction and Composition of the Committee<\/u><\/li>\n<\/ol>\n

    The present report appropriately and comprehensively reflects the activities of the Audit Committee of “Y\/KNOT Invest S.A.” (hereinafter the “Company”) for the financial year 2025 (January 1st, 2025, to December 31st, 2025), extending chronologically up to April 30th, 2026, for the purpose of completing the audit procedures and approving the annual financial statements. By virtue of the decision of the Annual General Meeting of Shareholders dated 10.07.2025, the new composition of the Committee was elected, which constituted itself into a body on the same day, consisting of Ms. Kalliopi Papadopoulou (Chair), Mr. Rigas Tzortzis (Member), and Ms. Christina Korkidi (Member). To ensure the historical and institutional continuity of the auditing work, the Committee took care to retrieve and integrate the minutes of the meetings of the previous composition, which concerned the first half of the financial year under review.<\/p>\n

      \n
    1. Internal Control System (ICS) and Fraud Prevention<\/u><\/li>\n<\/ol>\n

      In the context of supervising the effectiveness and adequacy of the ICS, the Committee adopted a risk-based auditing methodology. It held regular consultations with the Head of the Internal Audit Unit (IAU), Ms. Efstratia Strongylou, and reviewed the quarterly audit reports. Emphasis was placed on the following:<\/p>\n

        \n
      1. Fraud Prevention and Detection: The operational adequacy of internal controls that safeguard the reliability of financial reporting and minimize the risk of malice or fraud was evaluated. Indicatively, strict adherence to the procedures for the approval of expense vouchers by authorized persons was examined, as well as the alignment of tax documents (invoices) with legal evidence (charter parties) during revenue recognition.<\/li>\n
      2. Remediation of Findings: The universal (100%) settlement and compliance (follow-up) regarding the recommendations of the previous ICS evaluation\u2014which had been conducted by the audit firm SOL Crowe S.A.\u2014was established and confirmed, and the Hellenic Capital Market Commission was informed accordingly.<\/li>\n
      3. External Evaluation: The Committee recommended the assignment of the new mandatory periodic evaluation of the ICS, pursuant to Law 4706\/2020, to the audit firm Deloitte S.A. On March 30th, 2026, the Committee took note of the evaluation’s findings and reviewed the Management Action Plan prepared by the Management for the remediation of the new findings.<\/li>\n
      4. IAU Planning and Evaluation: The Committee was informed about the design of the risk-based Annual Audit Program for the financial year 2026 and conducted the annual evaluation of the professional competence and performance of the IAU staff.<\/li>\n<\/ol>\n
          \n
        1. Corporate Governance and Conflict of Interest<\/u><\/li>\n<\/ol>\n

          The Committee exercised uninterrupted supervision over the implementation of the Corporate Governance Code, ensuring compliance with the following:<\/p>\n

            \n
          1. Internal Regulation Code & Articles of Association: It reviewed the revision of the Internal Regulation Code and its annexes, confirming its absolute alignment with the provisions of Law 4706\/2020. Following its approval, compliance with the statutory publicity obligations was verified through its posting on the official corporate website. Concurrently, the unswerving compliance with the provisions of the Company’s Articles of Association was monitored.<\/li>\n
          2. Conflict of Interest: Throughout the financial year, the Committee has not detected any instances of conflict of interest between the Company and the members of the Board of Directors or its Executive Officers.<\/li>\n<\/ol>\n
              \n
            1. Risk Management and Material Subsidiaries<\/u><\/li>\n<\/ol>\n

              The Committee maintained systematic supervision over the Risk Management Unit (RMU), accepting the semi-annual reports and approving its annual operational plan. Specifically:<\/p>\n

                \n
              1. Risk Matrix: In February 2026, the update of the Group’s Risk Matrix was completed and approved, reflecting the current risk profile.<\/li>\n
              2. Strategic Supervision: In March 2026, the Committee appropriately recommended the revision of the quantitative and qualitative criteria for identifying “Material Subsidiaries”. Based on the new criteria, it recommended the classification of the subsidiary “K\/BULKERS” under this specific category, automatically placing it under an enhanced audit supervision status.<\/li>\n<\/ol>\n
                  \n
                1. Regulatory Compliance (Compliance)<\/u><\/li>\n<\/ol>\n

                  The Committee, placing particular emphasis on compliance with the regulatory framework, approved the Policy and the Annual Action Plan of the newly established Regulatory Compliance Unit, ensuring its smooth operation and the protection of the Group from regulatory risks.<\/p>\n

                    \n
                  1. Financial Reporting and External Audit<\/u><\/li>\n<\/ol>\n

                    In the context of the provisions regarding reliable information to the investing public, the Committee addressed the following:<\/p>\n

                      \n
                    1. Management Reporting & Investor Information: The Committee recommended the institutionalization of a monthly cycle for monitoring results (P&L) at a Group level, supporting this transition by recommending the hiring of a specialized reporting executive, a process which was successfully finalized in February 2026. Furthermore, it evaluated the process of disclosing financial information by the Investor Relations (IR) Department, deeming the information to be fully adequate.<\/li>\n
                    2. Semi-Annual and Annual Financial Statements 2025: In September 2025 and April 2026, following consultations with the Chief Accountant and the elected audit firm BDO CERTIFIED AUDITORS S.A., the Committee reviewed the Separate and Consolidated Financial Statements. The examination focused on critical accounting estimates and liquidity parameters, concluding in the preparation of the prescribed Conclusions Report.<\/li>\n
                    3. Auditor Independence: The Committee received and examined the Audit Report and the strictly confidential Supplementary Report of BDO (pursuant to EU Regulation 537\/2014), confirming the absence of material weaknesses and establishing the absolute independence and objectivity of the certified auditors. It is noted that the selection of the said audit firm had been proposed by the Committee to the General Meeting of 10.07.2025.<\/li>\n<\/ol>\n

                      Conclusions<\/u><\/p>\n

                      Based on the foregoing and following a thorough evaluation of the entirety of the audit procedures, the Audit Committee certifies that the financial reporting mechanisms, the Internal Control System\u2014with special mention to the mechanisms for the prevention and deterrence of fraud phenomena\u2014, the operation of Risk Management, and the Regulatory Compliance of the Company, functioned with absolute adequacy and effectiveness. The applied practices comply fully with the relevant professional standards, the provisions of the Articles of Association, and the generally applicable legislative and regulatory framework, thereby safeguarding the lawful interests of the Company and its shareholder body.<\/p>\n

                      Kifisia, April 30th, 2026<\/p>\n

                      THE AUDIT COMMITTEE<\/p>\n","protected":false},"excerpt":{"rendered":"

                      AUDIT COMMITTEE ACTIVITY REPORT FOR THE FINANCIAL YEAR 2025 Introduction and Composition of the Committee The present report appropriately and comprehensively reflects the activities of the Audit Committee of “Y\/KNOT<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[785],"tags":[],"class_list":["post-25023","post","type-post","status-publish","format-standard","hentry","category-activity-report-of-the-audit-committee"],"_links":{"self":[{"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/posts\/25023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/comments?post=25023"}],"version-history":[{"count":1,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/posts\/25023\/revisions"}],"predecessor-version":[{"id":25024,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/posts\/25023\/revisions\/25024"}],"wp:attachment":[{"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/media?parent=25023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/categories?post=25023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/tags?post=25023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}