Annual report 2012

Internal auditing

The Internal Audit Service conducts internal auditing for all companies in the Telekom Slovenije Group. It reports directly to the Management Board of the parent company. In its work, the Internal Audit Service abides by the standards for professional practice of internal auditing and the code of professional ethics, as confirmed by an external assessment of the Internal Audit Service’s work in 2011.

The scope and areas of regular audits are defined in the annual plan of work, which is compiled on the basis of risk assessments, and proposals from sector directors and members of the Management Board. It is adopted by the Management Board each year, subject to the approval of the Supervisory Board.

The Internal Audit Service performed all planned audits in 2012. It also performed audits in accordance with decisions of the management bodies of the parent company and subsidiaries. More important reports were discussed by Telekom Slovenije’s Management Board and the Supervisory Board’s Audit Committee, while reports were received by audited areas. The findings of audits and recommendations are included in the Internal Audit Service’s half-yearly report. In addition to audits, the Internal Audit Service regularly monitored the implementation of recommendations, and promptly briefed the Management Board and the Supervisory Board’s Audit Committee accordingly.

The Internal Audit Service also participated in other transactions of an advisory nature and in internal assessments for ISO 14001.