Internal Audit
The Group has an in-house internal audit function that is independent of the activities it audits (CCG 2005, Principle 13). The internal audit unit was established in 1996 to review the effectiveness of the material internal controls of the Group. The internal auditors are expected to meet or exceed the standards set by nationally or internationally recognised professional bodies including the Standards for the Professional Practice of Internal Auditing set by The Institute of Internal Auditors (CCG 2005, Guideline 13.2).
In this framework, the internal audit function provides reasonable assurance that the risks incurred by the Group in its activities have been identified, analysed and adequately managed by the Management. Internal audit also makes recommendations to enhance the effectiveness and efficiency of the Group.
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