INTERNAL AUDIT ACTIVITIES

At Aksigorta, internal audit activities are conducted by the Internal Audit Department reporting directly to the Board of Directors and it is organized to be independent in terms of administration. Although the ultimate responsibility lies with the Board of Directors, two non-executive members of the Board of Directors were elected and appointed as independent members of the Audit Committee. The Internal Audit Department reports to the Audit Committee. Additionally, in Board meetings there is a permanent agenda item concerning internal audit results and audit reports are put on the agenda by the Audit Committee. The internal audit activities of 2021 were realized by the Internal Audit Department consisting of the Head of Internal Audit, one Internal Audit Manager, one Audit Data Analyst and four Internal Auditors, in accordance with the “2021 Annual Audit Plan” approved by the Board of Directors. Within the context of the annual audit plan, auditing of 11 business processes were completed and the results were submitted in the form of a report 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.