Internal Audit

The Internal Audit division operates as an independent, objective assurance and consulting activity focused on the constant monitoring and improvement of the company's operations. Its primary mission is to review and evaluate the internal audit system, ensuring its adequacy and effectiveness in achieving business objectives.

Basic operating principles of the Internal Audit Directorate

The internal auditors are independent during the execution of their duties, do not report to any other departmental units of the Company and are supervised by the Board of Directors.

The Internal Audit Director is appointed by the Company's BoD and is a person of adequate qualifications and experience.

The Internal Audit examines and evaluates the adequacy and effectiveness of the structure of the internal audit systems, as well as the quality of performance of the remaining mechanisms and systems for the accomplishment of the Company's specified goals.

A primary goal of the internal audit is to provide the shareholders with reasonable assurance with regard to the accomplishment of the Company's operational goals.

Internal auditors exercise their duties according to the Code of Ethics of the Institute of Internal Auditors, which means that they are bound by the principles of integrity, objectivity, competence and confidentiality. In addition, their actions conform to the International Standards for the Professional Practice of Internal Auditing, and to the policies and procedures of the Company.

The Internal Audit is entitled to full access to all books and data, employees, premises and activities of the Company required in order to carry out its auditing work.