The Internal Audit function of the Group is outsourced to an external advisory firm, reporting directly to the Audit Committee. The outsourced Internal Audit function provides an independent review over key processes, monitoring the compliance of policies and procedures, evaluating the adequacy and effectiveness of internal control and risk management systems, and highlighting significant findings and corrective measures in respect of any non-compliance to the Audit Committee.
Internal audit reports are presented to the Audit Committee during its quarterly meetings. Findings and recommendations are presented to Management. Follow-up reviews in respect of previous audits are performed to ensure Management carries out the necessary action plans on prior audit recommendations.