Tamkeen’s internal audit committee meets to review financials

As part of Tamkeen’s efforts to ensure transparency and the integrity of its financial statements, Tamkeen’s Audit Committee has met to discuss the draft financial statements for the 6 months ended 30 June 2014 and to follow up on the findings from the external auditor and ensure their implementation and execution.

The Committee, which consists of five members, had conducted a total of 10 meetings this year, where a number of issues were discussed, some of which are reviewing Internal Audit Reports; following up on management's corrective action on observations noted in National Audit Court reports; providing recommendations to the Board of Directors; and expanding the Internal Audit Department within Tamkeen.

In addition, the Committee also approved the Annual Audit plan for the years 2014-2016 which is a key document that addresses the audit needs of Tamkeen and ensures that its strategy is aligned with its key business objectives.

The Audit Committee is led by Tamkeen’s Board Member Mr. Isa Abdulrahim, and includes Tamkeen Board Members Mr. Abdulellah Al Qassimi and Mr. Mohammed Abdulrahman, as well as the Independent Audit Committee Members, Mrs. Heyam Al Awadhi and Mrs. Rana Faqihi (). Tamkeen’s Internal Audit Department is headed by Senior Manager Ms. Fareeba Amiri,.

In addition to reviewing Tamkeen’s financial statements, internal audit reports, external audit reports and performance audit reports, the Audit Committee is also tasked with overseeing the quality and reliability of Tamkeen’s reporting practices, in addition to ensuring Tamkeen’s compliance with legal and regulatory requirements.