Internal Auditing

Tasks and responsibilities of Group Auditing

The Group Auditing Directorate fulfills the responsibilities of the independent internal auditing function of Magyar Telekom group. Its primary goal is to provide support to the Supervisory Board, Audit Committee and to the management of the Company and its subsidiaries for the efficient completion of their tasks.

Major tasks of Group Auditing:

• Help assuring Group level efficiency and compliance with audits and consultant activities.
• Prepare and implement an audit plan in order to establish a reliable opinion on the control activities of certain areas and of the whole Company and Magyar Telekom Group; and to identify areas of risks.
• Complete Company and Group level audits to make sure that the organization complies with the approved corporate policies, Group level objectives and expectations and fulfills its responsibilities efficiently and effectively in a reasonable and diligent way.

Group Auditing keeps a professional contact with DT Internal Audit and with the internal auditing functions of the international subsidiaries as well. Group Auditing directly fulfills the responsibilities of risk management and auditing in those consolidated subsidiaries that do not have internal auditing function.

The management of Group Auditing keeps regular contact with the external book auditor for the efficient information exchange and for the optimal coordination. The external auditor extensively relies on the results of the work of Group Auditing.

Group Auditing has a special empowerment for fulfilling its responsibilities and measures. This empowerment provides full, free and unrestricted access to data, information, record keeping systems and to employees, facilities and assets involved in an audit.

The internal auditors perform their work in full compliance with the relevant professional standards, laws and ethical norms with special focus on the audit standards and Code of Ethics of the Institute of Internal Auditors.