- Corporate Governance Principles
The Risk and Audit Committee1
The Risk and Audit Committee was established to in order provide assurances as well as to advise the Board of Directors via ensuring the delivery of the audit plans of internal auditors, and effective execution of Enterprise Risk Management framework across the Holding companıes and review of resultant reporting and follow up of management actions of the group companies. The Committee consists of three Board members elected by the Board of Directors and meets regularly at least 4 times a year a week prior to the Board of Directors meetings. The Risk Management and Internal Audit functions are independent from execution and report directly to the Risk and Audit Committee.
Responsibilities of the Committee are as follows:
- Ensuring that a functional risk monitoring system transmits important issues to the Board,
- Reviewing regular information flow from the Group companies and evaluating risk assumed in the Group strategies, business plans, budgets and investments. It also evaluates managerial actions to address risk along with the general risk management processes within each company,
- Review of the Group risk levels to ensure that they are in line with predetermined levels of shareholder risk preferences and,
- Advising the Board of Directors in determining risk plans and actions taken with regards to risk management within the Group.
- Overseeing the efficacy of actions taken by Group companies in response to the results of financial, operational, and information technology audits performed by the Doğuş Holding Internal Audit Department,
- Evaluating the efficacy of the internal control processes of the Group companies and advising on ways to improve the internal control environment,
- Overseeing the efficacy of financial control and internal audit activities within the Group,
- Overseeing the security, efficiency and effectiveness of the information systems used by Doğuş Group companies and reviewing and approving their contingency plans and,
- Assisting the Board of Directors to ensure that the business activities of the Group companies are in compliance with the requirements of applicable laws and regulations.