Creating an effective internal control mechanism for each business process is an essential part of our understanding of responsible and sustainable management. We ensure effectiveness and efficiency of our operations, reliability of our reporting, compliance to the regulations and protection of our assets through our internal control systems.

Our internal control system has been designed based on the international standards and best practices, and has been integrated in our company policy, procedure, instructions and business process. We give importance to our employees to have responsibility, information, capacity and authority regarding internal control processes.

Effectiveness of our internal control systems is assessed by Tofaş Internal Audit Department and the external audit services. The external audit services include audits conducted by audit teams of Koç Holding and FCA, independent audit companies determined by the General Assembly, and other related ad-hoc third-party services. Necessary actions are taken immediately in case of detection of any improvement areas, as a result of these audits.

Our Internal Audit Department’s goals, authorities and responsibilities are defined in Internal Audit Guidelines. Reporting directly to the CEO, the Internal Audit Department does not have any hierarchical link to other departments. Thus, the independence and objectivity of auditors are ensured. It has ensured that internal auditors have analytical thinking competence, strong communication skills, audit technical knowledge and ethical values required by the profession. Internal auditors improve their knowledge, skills and other qualifications continuously by professional development practices.

The Audit Committee under Board of Directors is responsible for evaluating the effectiveness and the conduct of internal audit system, and for reporting improvement areas to the Board.

Internal audit system involves inter-unit audits as well. Unit representatives are provided to specialize in certain subjects and they evaluate other departments in line with their expertise. In addition to internal audits, we provide periodical audit studies for dealer and supplier operations as well. We conduct audits on sustainability issues including environment, working and manufacturing conditions, ethics and quality.