Internal Audit

Internal Audit is an independent, impartial and advisory activity designed to add value and improve the operations of the Company and the Group. 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, in exercising their duties, enjoy independence, do not come under the hierarchical authority of any of the Company's departmental units and are supervised by the Company's Board of Directors.

The Internal Audit Manager is appointed by the Board of Directors and is a person with adequate qualifications and experience.

The Internal Audit Division examines and assesses the adequacy and effectiveness of the structure of internal control systems, as well as the quality of the efficiency of the other mechanisms and systems involved in the attainment of the specified Company's goals.

The primary objective of  internal audit is to provide the shareholders and the Board of Directors with reasonable assurance regarding the attainment of the Company's operational goals.

Internal auditors exercise their duties according to the Code of Conduct of the Institute of Internal Auditors, which means that internal auditors are bound by the principles of adequacy, independence, impartiality 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 Division has full access to all  books and data, premises and activities of the Company, as well as open communication with employees, which are necessary in carrying out its auditing work.


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