The necessary internal control environment was created within the Company for achieving strategic objectives, ensuring operational efficiency and productivity, assuring the credibility and accuracy of financial data, protecting customers’ personal information and Company assets, and ensuring compliance with laws, regulations, policies and procedures.
The Türk Telekom Internal Audit Unit was established to assess the effectiveness of risk management, internal control, legal compliance and governance processes at Türk Telekom and all Group companies, so as to provide an independent and unbiased assurance and consultancy service. In order to perform its activities in an independent and objective manner, the Internal Audit Unit reports directly to the Audit Committee, a component of the Board of Directors, in line with authority and responsibilities based on principles approved by the Board.
Türk Telekom Group’s risks are determined by annual Risk Identification and Assessment surveys. The 41 risk topics identified in 2017 were divided into the categories of Financial, Strategic and Operational Risk. These risks are then prioritized according to evaluations by Türk Telekom senior management, risk responsibilities are duly distributed and actions plans are drawn up to either manage, or else completely eradicate them.
Detailed root cause analyses were performed for these 41 risks in order to provide a basis for action planning, and joint efforts were expended under the guidance of the Corporate Risk Management Department.