Internal Audit Activities

The internal audit system of Aksigorta was structured in accordance with the Communiqué on the Internal Systems of Insurance and Private Pension Sectors issued in the Official Gazette dated November 25, 2021, and numbered 31670. As per Article 6 of the Communiqué no. 16/2022 Concerning Enforcement of Some Articles of the Regulation on the Internal Systems of Insurance and Private Pension Sectors, it is possible to jointly use an audit committee, internal control, risk management, actuarial and internal audit unit of any of the insurance, reinsurance and pension companies under the Insurance group, without the need to form another such separate unit in other companies, too. Therefore, the AgeSA Emeklilik ve Hayat A.Ş. Internal Audit team has been restructured accordingly so that it can serve both Aksigorta A.Ş. and AgeSA Hayat ve Emeklilik A.Ş. companies as of February 1, 2022. Additionally, a decision has been taken to ensure that the Internal Audit team also works for Medisa from October 25, 2023. Pursuant to the Board of Directors resolution dated October 31, 2007, and numbered 2007/31, and in accordance with applicable laws, rules, regulations and practices, an Audit Committee was set up to help protect the interests of the Company’s stakeholders. As stipulated by the Board of Directors resolution dated October 17, 2014, and numbered 2014/62, the aforementioned Committee was restructured and replaced by the current Audit Committee to ensure compliance with Capital Markets Board Corporate Governance Principles.
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The Audit Committee consists of two members, namely Hüseyin Gürer and Fatma Dilek Yardım, both Independent Members of the Board of Directors. According to the organizational chart, the Internal Audit department reports directly to the Board of Directors and operates independently. The Company aims to manage the internal control system within the maximum risk limits which determine risk factors which may prevent reaching strategic and operational goals. The Risk Management and Internal Audit Departments are responsible for ensuring operational productivity and efficiency, issuing financial and managerial results in a timely, accurate and reliable manner, overseeing compliance with applicable laws and regulations, protecting shareholder investments and Company assets, and managing risks effectively and efficiently. The scope of internal audit activities includes analysis and assessment of the efficiency and capability of internal control, risk management and administrative processes in order to yield reliable, independent and impartial opinions on these processes, and to present proposals for improvement and development.
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As part of the annual audit plan for 2024, a total of 16 audits, 13 in the field of business processes and 3 in the field of information technologies, were completed, and the associated reports were submitted to the Audit Committee. The actions taken by the Company executives in connection with the internal control deficiencies observed within the framework of Audit Reports were subsequently followed up and the adequacy of the actions were questioned by monitoring their effect on the risk level and the results were reported to the Audit Committee.
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The Internal Audit team consists of 1 Chairman, 2 Group Managers, 1 Manager, 11 Auditors and 1 Audit Data Analyst, who possess the qualifications specified in the Regulation on Internal Systems of Insurance, Reinsurance and Pension Companies. The internal audit personnel were provided with the necessary training courses to support their professional development and improve their knowledge. The Internal Audit Department staff members have no responsibility, authority or influence on the audited operations of the Company, and their full independence is ensured.