Tharwa Investment appoints PricewaterhouseCoopers to carry out independent internal audit
- Kuwait: Sunday, September 02 - 2012 at 16:53
- PRESS RELEASE
Tharwa Investment Company announces that it has appointed PricewaterhouseCoopers (PwC), the leading consultancy services firm, as an independent consultant to carry out internal audit of the company, a move in the direction of strengthening its internal control system and backing both its Board of Directors and the Audit Committee.
"Internal audit is the tool with which internal control can be implemented: through reviewing the business environment, the integrity of information, the extent of compatibility with the established policies, procedures and instructions. As decentralization is increasingly being adopted by companies, business activities and procedures are getting more and more complicated. This has created the need to find out means of control through internal audit, which is considered to be an indispensible procedure that has to be followed in accordance with the instructions of regulators as well as out of the company's internal desire to ensure the adequacy and effectiveness of its internal control systems currently applied in carrying out various activities in the various departments of the company," Derbalah added.
"We are proud to have PricewaterhouseCoopers (PwC) as our consultant as it has worked in the Middle East for 40 years serving major companies in the sectors of banking, investment, real estate and many other vital sectors," he concluded.
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