Tharwa Investment appoints PricewaterhouseCoopers to carry out independent internal audit

Commenting on that, Ahmed Derbalah, Tharwa's Senior Vice President for Finance & Risks Department, said, "Internal Audit is an important component of the control systems that are being established and maintained by our company. This ensures providing independent, objective assurances on the safety and adequacy of our corporate controls and regulations."

"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.