The Internal Audit Service of QAZAQ AIR JSC (hereinafter referred as the Service) was established in September 2016 by the decision of the Board of Directors of the Company.
The main objective of the Service is to provide independent and objective guarantees and advice to the Board of Directors aimed at improving the risk management systems, internal control and corporate governance in the Company.
The Service is the body of the Company providing the organization and implementation of internal audit in the Company, organizationally subordinate and functionally accountable to the Board of Directors.
The activity of the Service is carried out in accordance with the Annual Risk-Oriented Audit Plan approved by the Board of Directors.
In its work, the Service is guided by the Regulations on the Service, the Manual on the Organization of Internal Audit, and the International Professional Standards of Internal Auditing of the Institute of Internal Auditors (and practical instructions for them).
The main objectives of the Service are:
- Assessment and assistance of improvement the internal control system;
- Assessment and assistance of improvement of the risk management system;
- Assessment of the risk of fraud and the effectiveness of fraud risk management in the Company;
- Evaluation and assistance of improvement the corporate governance system in the Company;
- An estimation of reliability, completeness, objectivity of system of book keeping and reliability of the financial reporting;
- Assessment of compliance with the requirements of the legislation of the Republic of Kazakhstan, the requirements of regulatory documents of the Company (compliance control)
Assessment of the rationality and efficiency of the use of the Company’s resources and the methods used to ensure the safety of the Company’s assets.