Internal audit

The Internal Audit Service (IAS) is a governance body of Kcell JSC responsible for organizing and conducting internal audits within the Company. The IAS reports directly to the Board of Directors and is overseen by the Board’s Internal Audit Committee. Its operations are carried out in accordance with the Regulations on the Internal Audit Service and the Annual Audit Plan, both approved by the Board of Directors.

The mission of the IAS is to support the Board of Directors and the Management Board in fulfilling their responsibilities and achieving Kcell JSC’s strategic goals. In its activities, the IAS adheres to the principles of integrity, objectivity, confidentiality, and professional competence, as defined by the Code of Ethics and the International Standards for the Professional Practice of Internal Auditing issued by the Institute of Internal Auditors (IIA).

The primary objective of the IAS is to provide the Board of Directors with independent and objective assurance and advisory services aimed at enhancing the effectiveness of risk management, internal control, and corporate governance systems.

The key responsibilities of the IAS include:

• assessing the reliability and effectiveness of the Company’s internal control system;
• evaluating the maturity and improvement of corporate governance processes;
• reviewing the efficiency and effectiveness of resource utilisation and methods used to safeguard the Company’s assets;
• assessing the accuracy, completeness, and objectivity of the accounting system, as well as the reliability of financial reporting;
• evaluating the Company’s compliance with the laws of the Republic of Kazakhstan, and the adequacy of systems and procedures established to ensure such compliance;
• assessing fraud risk and the effectiveness of anti-fraud risk management.

Based on the results of its audits, the IAS provides relevant recommendations, including proposals for improving the existing internal control and risk management systems, operational processes, and governance principles. The IAS also offers commentary on any matters within its remit.