With a view to strengthen the effectiveness of internal control, risk management and corporate governance procedures, to ascertain the integrity of company’s operations and reporting and to ensure the compliance with the requirement of statutory authorities and Capital Market Authority, etc., Galfar has set-up an independent Internal Audit Unit, reporting directly to the Audit Committee of the Board of Directors
Internal Audit function is expected provide to the company an independent, objective assurance and consulting services using a disciplined systematic approach, guided by a philosophy of adding value to improve the operations of Galfar.
The broad scope of Internal Audit includes:Review and evaluation of the adequacy and effectiveness of the internal control systems at various operations and activities and to determine if these controls need to be strengthened;
In order to ensure its independent and effective working, Internal Audit has been granted free and unrestricted access to the Chairman and to the Audit Committee of the Board of Directors and to any and all of company’s records, physical properties, and personnel relevant to any function under review.
Mr. Dilip Kumar M. V.