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Internal control system

Internal Control System (ICS) is an integral part of the CRMS. ICS uses COSO model and includes five interrelated components: control environment, risk assessment, control procedures, information and communications, and monitoring. KMG and its subsidiaries and affiliates are implementing the ICS, which aims to provide reasonable assurance that KMG's goals will be achieved in three key areas:
• improving the efficiency of operating activities;
• preparation of complete and reliable financial statements;
• compliance with the requirements of the legislation of the Republic of Kazakhstan and internal documents of KMG.

ICS is aimed at analyzing business processes, at timely identification and analysis of process-level risks inherent in KMG's activities, as well as at defining and analyzing control procedures for managing these risks.

graphic
The Internal Control System of NC KazMunayGas JSC determines the scope, objectives, principles of operation, and components of the Internal Control System (ICS), and is aimed at analyzing business processes, timely identification and analysis of process-level risks inherent in KMG's activities, as well as determining and analysis of control procedures for managing these risks.
Document
Internal control system