The Internal Audit function provides the holding with risk-based and objective assurance, advice, and insight based on the highest level of independence.

The internal audit function provides the highest level of independence, assurance, advice and risk-based and objective insight to the company.

The Internal Audit function is primarily responsible for the following:

• review of corporate governance process and risk management procedures
• audit of compliance and internal controls
• audit of operational effectiveness and efficiency
• assessment of IT controls environment and information security
• special reviews based on requests of the key stakeholders

Audit committees assist the company's board of directors in evaluating the effectiveness of the control environment and governance practices, overseeing the financial reporting process, overseeing internal audit activities, and coordinating activities with external assurance providers. Periodic and structured reports are maintained to inform key stakeholders of the status of outstanding issues and ensure timely implementation of internal audit recommendations.

The Internal Audit function closely cooperates with the other assurance providing services to increase efficiency and minimize duplication of efforts.