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.