Responsibilities of the Head of Internal Audit. The Head of Internal Audit is responsible for: ▪ Assisting the Management and the Audit Committee in the activities of monitoring, exam and assessment of the governance process, risk and control, maintaining the objectivity and independence. ▪ To establish risk – based audit plans in order to determine the priorities of the internal audit activity. Those plans must be consistent with the goals and must assure in a reasonable manner the monitoring of Cenit’s Internal Control system. ▪ To propose the scope and contents of the General Audit Plan, assurance activities and consultancies; and to guaranty its efficient and timely execution. ▪ To give advice and support the process of improvement and monitoring of Cenit’s Internal Control system; DC – Crude Oil Transportation Agreement – 018 – 2013 183 ▪ To inform the results of the assessment of the compliance with the Ethics and Corporate Governance codes. ▪ To inform of the irregular situations detected in the performance of its duties to Cenit’s management bodies and to the authorities, as the case may be, according to the magnitude of the fact detected.
Responsibilities of the Head of Internal Audit. The Head of Internal Audit is responsible for: ▪ Assisting the Management and the Audit Committee in the activities of monitoring, exam and assessment of the governance process, risk and control, maintaining the objectivity and independence. ▪ To establish risk – based audit plans in order to determine the priorities of the internal audit activity. Those plans must be consistent with the goals and must assure in a reasonable manner the monitoring of Cenit’s Internal Control system. ▪ To propose the scope and contents of the General Audit Plan, assurance activities and consultancies; and to guaranty its efficient and timely execution. DC- Crude Oil Transportation Agreement - 009 - 2013 184 Contrato de Descargue xx Xxxxx ▪ To give advice and support the process of improvement and monitoring of Cenit’s Internal Control system; ▪ To inform the results of the assessment of the compliance with the Ethics and Corporate Governance codes. ▪ To inform of the irregular situations detected in the performance of its duties to Cenit’s management bodies and to the authorities, as the case may be, according to the magnitude of the fact detected.
