Banner

Au​dit and Risk Committees

​At EFG Hermes, we take our audit and risk management responsibilities very seriously and have implemented stringent policies and p​rocedures to ensure that all of our activities are in compliance with international best practices. ​​

The Audit Committe is responsible for:

  • ​Facilitating an open avenue of communication between the Internal Auditors, the external auditors and the Board of Directors, thus ensuring transparency in the disclosure of the findings of the Audit and Risk Committee;​
  • Reviewing the auditor’s independence and objectivity;
  •  Reviewing financial reporting process to ensure quality and integrity in the production of reliable financial information, relevant, useful and transparent decision making;
  • Ensuring the adequacy of the systems of internal control through independent review of operational processes;
  • Monitoring and reviewing the effectiveness of the internal audit function; 
  • Reviewing of any significant violations including conflict of interest or adherence to standards of conduct as required by the policy and management’s responses and/or proposed corrective and preventive action in relation thereto. 

​​​​The Risk Committee is responsible for: 

  • ​Providing oversight of risk appetite and risk tolerance appropriate to each business line of the company;
  • Advising the Board on risk aspects of business strategy;
  • Implementing appropriate policies and procedures relating to risk management governance, risk management practices, and risk control infrastructure for the enterprise as a whole;
  • Reviewing and approving Group’s Risk Management Policies;
  • Implementing processes and systems for identifying and reporting risks and risk-management deficiencies;
  • Monitoring of compliance with the company’s risk limit structure and policies and procedures relating to risk management governance, practices, and risk controls across the enterprise; 
  • Reviewing comprehensive reporting on Group Enterprise Risk Management and performance measured against approved risk appetite;
  • Ensuring the adequacy of the corrective actions to address risk management deficiencies;
  • Integrating risk management with control objectives in management goals.


Audit and Risk Committee Members:

Mona Zulficar

Chairperson, EFG Hermes

Simon Eedle

Senior Country Manager, Natixis, Dubai

Zubyr Soomro

Chairman of the Pakistan Microfinance Investment Company

Ramsay Zaki

Founder Wafra Export​

  

​​​​
Print this page
Send this page by email
Last updated on February 07, 2018