KMG Internal Audit Service passed independent assessment
The results of the external assessment of JSC NC “KazMunayGas” Internal Audit Service by KPMG Tax & Advisory LLP fully meet international professional standards of internal audit and best international practices.
In addition, according to IA Capability Model for the Public Sector maturity assessment, IAS is on the “Optimizing” maturity level for the majority of aspects, which is level five out of five. This model defines the fundamentals of an effective internal audit and describes development trends according to the current level.
Recognising the high efficiency of KMG’s Internal Audit Service confirms that the Company has implemented an efficient internal control system, as well as a systemic and consistent approach to risk assessment, annual scheduling and individual audits.
An internal audit service generally makes it possible to reduce risks of breaches of law and internal regulations. An effective internal audit service helps not only detect breaches of law, but also prevent them. KMG’s Internal Audit Service is independent and reports to the Board of Directors.