Transfer Pricing and the Internal Audit Role in Intercompany Transactions

Nikolaos Dounis, Senior Internal Auditor, Cosmote Mobile Telecommunications S.A., Greece

One of the most important and difficult aspects of an audit and review on reliability and integrity of financial statements is the identification for the transactions of related parties. Related party transactions are a normal feature of commerce and business. Their importance concerning reliability and integrity of financial information is always high, especially for highly diversified entities and business structures. Due to this complexity, proper review requires a sound understanding and careful analysis.

Nikolaos P. Dounis (BBA, Msc, PhD) is a Senior Internal Auditor at Cosmote Mobile Telecommunications S.A. at Athens, Greece. Prior to joining Cosmote he was at PriceWaterhouseCoopers, Athens, Greece working as internal audit consultant. His Master's and PhD degrees were awarded at Cass Business School, City University, London. His main research areas are internal auditing, risk management and corporste governance and his working experience is mainly in Sarbanes- Oxley compliance projects and operational audits. In 2005, he received a PhD colloquium award for distinctive performance and best presentation at the Third European Academic Conference in Internal Auditing & Corporate Governance by the IIA - UK & Ireland.

Cosmote Mobile Telecommunications S.A. is the leading mobile operator in Greece. It is a member of OTE Group of Companies and has a major market share in the Southeast Europe mobile telecommunications subscribers.