In 2022, Corporate Compliance Management changed its name to Corporate Processes and Risk Management, with a reporting level to General Management.
Likewise, the level of maturity of our Internal Control System (ICS), according to the global self-rating, was 3.95 – Optimal ICS. This qualification is determined according to the established criteria and indicates that the conditions to implement the SCI exist, are formalized, in operation and there is documentary evidence of its compliance.
The progress of risk management, for this period, was 93.07%. In addition, we managed to implement 90% of the total action plans established to address risks in 2022, within the framework of the 2019-2023 strategic objectives.
It should be noted that the results obtained by the aforementioned systems were reported to the Board of Directors and the Audit and Control Committee during 2022.
Our Board of Directors is responsible for proposing, before the General Shareholders’ Meeting, the criteria for selecting the auditing companies for approval. These criteria are incorporated into the bases of the public merit contest carried out by the Office of the Comptroller General of the Republic for the designation of the auditing company of the company’s financial statements.
The chosen audit firm is submitted to the General Shareholders’ Meeting for consideration in order to formalise its appointment. The audit process began in May and ended in September 2022, after the recomposition of the Board of Directors.
