The Internal Audit department operates independently under the Board of Directors and regularly reports to both the Board and the Audit Committee.
Defined under the “Internal Audit Regulations”, the department reviews internal controls to assess whether their design and execution are appropriate, effective, and efficient. The audit scope covers all units, operations, and subsidiaries.
Audit work is conducted based on a risk-oriented annual plan approved by the Board. Project audits are performed as needed to provide independent assurance and identify potential control gaps.
The department also reviews self-assessments conducted by all units and subsidiaries, verifying operational execution and documentation quality. Results are reported to the Audit Committee and the Board of Directors.
The Internal Audit team is led by a chief audit executive, whose appointment or dismissal requires Audit Committee approval and Board resolution. Related procedures are disclosed in the company’s internal regulations.
