Corporate Governance Internal Control / Risk Management

Executives of the Company are responsible primarily for the establishment of an internal control system, its proven efficiency and productivity in accordance with the targets and objectives. Zorlu Holding Internal Audit Department provides an internal audit service to the Company, as well, together with all the other companies of Zorlu Group. Topics of audit are first suggested to the Audit Committee, and thus, the subjects and scopes of the audits to be performed are determined. Evaluation report developed following the audit process is first submitted to the Audit Committee before being submitted to the Board of Directors. What that has been targeted is an independent, objective, and risk-focused consultancy and provision of security function with such a structure.

When audit plans shall be created, processes wherein sheltering the ones having the highest probability of getting to be realized and impact from among the defined risks are being taken into consideration. At this stage, the macro and micro indicators, opinions of the Company executives and the existing international certificates (CIA and CFE), and the personal build up and expertise of the internal auditors having proven their professional competences stand to be the tools being benefited from. There exists an "Internal Audit Regulation" which specifies in written the authority, liability, and objectives of the Internal Audit Department and which has been approved and signed by the Board of Directors. The very same regulation, also, has been developed for the practices of the Audit Committee of the Company.

Currently, transactions of bringing the fundamental processes of the Company into a procedural manner still keep going, and they are targeted to be completed soon.