Audit and Internal Control Department provides two essential and complementary functions:
- Creates the annual audit plan
performs audits requested by various HUG divisions after the approval of the Chief Executive Officer and the Chairman of the Board.
The objective during audits is to ensure the proper operation, effectiveness and efficiency of the operational procedures and their compliance with current regulations. Furthermore, the internal audit assesses and validates the quality of the internal control procedures.
The Audit Division is the HUG internal control mechanism. It’s control mission extends to all HUG operations and activities and applies to operational and organizational procedures, and also to their results. To fulfill this mission, the Audit and Internal Control Department:
- Prepares a risk chart for all HUG activity sectors
- establishes, with the relevant divisions, the measures required in order to establish reasonable guarantees in terms of accomplishing HUG strategic objectives and controlling risk.
The Audit and Internal Control Division answers for its mandate to the Chairman of the Board and the Chief Executive Officer.