Risk Management Committee
VERUSATURK GİRİŞİM SERMAYESİ YATIRIM ORTAKLIĞI A.Ş. EARLY RISK DETECTION COMMITTEE AND WORKING PRINCIPLES
With the decision of our Board of Directors dated 06.02.2014 and numbered 2014/4, it was decided to establish an ‘Early Risk Detection Committee within the Board of Directors of our Company in accordance with the II-17.1 Corporate Governance Communiqué issued by the Prime Ministry Capital Markets Board. The working principles of the Early Risk Detection Committee have been regulated by the decision with the same number of our Board of Directors.
I. PURPOSE and SCOPE
Verusaturk GSYO A.Ş. The purpose of the Early Detection of Risk Committee affiliated to the Board of Directors (Verusaturk GSYO) is to give suggestions and offers to the Board of Directors regarding determining, defining, prioritizing, monitoring and reviewing the strategic, financial, operational risks and opportunities that may affect the activities of the company by calculating their effects and probabilities; managing, reporting, considering within the decision making processes these risks and opportunities in parallel to risk profile and interests of the company.
II. COMMITTEE ORGANIZATION
The Early Risk Detection Committee consists of at least 2 non-executive members of the Board of Directors, provided that the Chairman is an independent member of the Board of Directors. The Early Risk Detection Committee and its members are selected by the company's Board of Directors.
III. DUTIES POWERS AND RESPONSIBILITIES
To make suggestions and assist the Board of Directors on the determination, management and correction of all kinds of risk elements and opportunities that may be encountered in the activities of the company, the coordination with related departments, primarily internal control and internal audit departments, the review and evaluation of risk management systems, and to review the risk management systems at least once a year. The determination and follow-up of priorities for the integration of risk and internal control systems into the company and their efficiency, and ensuring that risk elements and opportunities are checked within the scope of risk management and are reported to the Board of Directors in terms of compliance are among the powers of the Early Risk Detection Committee. The Committee acts within its own authority and responsibility and makes recommendations to the Board of Directors; The final decision responsibility always belongs to the Board of Directors.
Verusaturk GSYO's Early Risk Detection Committee duty and working principles entered into force with the decision of the Board of Directors dated 06.02.2014 and numbered 2014/4.