Professional Documents
Culture Documents
POLICY
It is companys policy to support Internal Audit Unit as an independent objective assurance and
consulting activity designed to add value and improve the Groups operations.
OBJECTIVE
Internal Audit Unit aims to assist and be a partner to the organization to accomplish its
objectives by bringing a systematic, disciplined approach to evaluate and improve the
effectiveness of risk management, control and governance process.
DUTIES AND RESPONSIBILITIES
In carrying out their duties responsibilities, members of Internal Audit Unit will have full, free and
unrestricted access to all relevant company activities, records, property and personnel. The
scope of internal auditing encompasses the following:
Internal Auditors have no direct responsibility or authority over any of the activities which
they review. Review and appraisal by Internal Audit Unit do not in any way relieve other
persons in the organization of the responsibilities assigned to them.
To assist the organization in identifying and evaluating significant exposures to risk and
contribute to the improvement of Risk Management and control system.
To determine the adequacy, integrity and effectiveness of each companys system of internal
control over operations management and management information systems including
systems for compliance with applicable laws, regulations, rules, directives and guidelines.
To evaluate procedures in place to safeguard company assets and, as appropriate, verify the
existence of such assets.
To provide advisory services as part of the routine audit activities as well as in response to
requests by management.
The findings and recommendation of Internal Audit Unit shall be made available to the
relevant manager and senior management for corrective action.
Any other duties as directed by the Audit Committee or the Board of Directors.
Any special review and investigative audit as directed by Chief Executive Officer.
Any change in circumstances which may lead to a major movement in assets/ liabilities, for
example the disposal of fixed assets, change of premises and so forth.
Any burglary of theft affecting Group assets that involved an insurance claim.