Corporate Governance

The Internal Audit department is an independent unit. In addition to presenting reports during regular Board of Directors meetings, the department reports to the Chairman on a monthly basis or as necessary.

The Internal Audit Charter stipulates that Internal Audit shall review the internal controls of the Company’s operating procedures and report on the adequacy, effectiveness, and efficiency of the design and routine implementation of these controls. The scope covers all operations of the Company and its subsidiaries.

Audit work is primarily executed based on an audit plan approved by the Board of Directors, which is formulated based on identified risks. Special audits or reviews are conducted as needed. The execution of these general and special audits provides management with insight into the functioning of internal control systems and serves as an additional channel for management to understand existing or potential deficiencies in a timely manner.

Internal Audit reviews the self-assessments performed by various units, including verifying the execution of tasks and reviewing documentation to ensure quality. The results of these self-assessments are consolidated and reported to the Board of Directors.