Mechel PJSC has a functioning Internal Audit Division
Objectives and functions of the Internal Audit Department
The main objective is to provide the Company's Board of Directors, the Audit Committee of the Board of Directors and the Company's management with guarantees and recommendations intended to increase the Company's shareholder value, assist the Company in achieving its business management goals and improve its business operations, improve its internal control system, corporate governance and risk management.
- Assessment of the implementation of internal control procedures and review of the effectiveness of the internal control system as a whole, as well as the effectiveness of control over individual strategic projects and areas of the Company's activities;
- Periodic assessment of the design and operational effectiveness of key control procedures at the company level as a whole and at the level of certain business processes, providing an independent opinion on the effectiveness of the internal control system;
- Independent and reliable assessment of operational, financial and information systems in regards to risk management, control and corporate governance processes in order to improve the efficiency of these processes;
- Coordination of interactions with the Company's external auditor and other organizations to ensure the achievement of common goals;
- Assess the compliance of the Company's financial and business operations with the Company's interests in order to protect its assets;
- Active assistance to the Audit Committee, the Board of Directors and the Company's management by providing relevant advice, while maintaining independence and objectivity in improving the effectiveness of the internal control system, risk management system and corporate governance.