I.
GREENET’s Internal Audit team is an independent unit that reports directly to the Board of Directors. In addition to routine reporting at board meetings, it reports quarterly or as needed to the Chairman and the Operations Committee.
II.
According to the Company’s internal audit procedures, the department is responsible for reviewing the internal control systems of all operational processes. It evaluates whether the design and daily execution of these controls are appropriate, effective, and efficient. The review covers all departments and functions across the Company.
III.
Internal audits are carried out according to an annual audit plan approved by the Board of Directors. This plan is formulated based on identified risks. Special audits or reviews may also be conducted as necessary. Through both regular and special audits, Internal Audit provides objective assurance and insights into the effectiveness of the Company’s internal controls. It also serves as an additional channel for management to identify and address existing or potential control weaknesses in a timely manner.
IV.
Internal Audit reviews self-inspections conducted by each unit, including checks to confirm that operations are carried out and documented in accordance with established procedures. Consolidated results of these reviews are reported to the Board of Directors.
V.
Internal Audit is currently staffed with two full-time auditors.