Assessments on İşbank Committees
İşbank committees presented their decisions and reports to Board of Directors, and the necessary decisions have been taken as a
result of the assessment of Board of Directors.
The Audit Committee
The Audit Committee has two members and is chaired by Mrs. Füsun Tümsavaş, Vice Chairman of the Board of Directors, by the
resolution of the Board of Directors dated 30.05.2011 and Nr. 37575. The other member of the Committee is Prof. Dr. Savaş Taşkent,
who is also a member of the Board.
The Audit Committee is responsible for holding meetings at least twice a year provided that a six month period is not exceeded and
is obliged to inform the Board of Directors about the results of its activities and the measures to be taken, practices that are required
and its opinions on other matters that are deemed to be significant for the Bank to conduct its business safely.
The Audit Committee is in charge of:
• Ensuring that the internal systems of the Bank function efficiently and sufficiently, that these systems and the accounting and
reporting systems operate within the framework of the related regulations and the Bank’s policies and that the information
produced has integrity,
• Carrying out the preliminary assessment of independent audit firms and rating, valuation and support services companies to be
selected and monitoring the firms that are appointed by the Board, on a regular basis,
• Ensuring that the internal audit functions of subsidiaries that are subject to consolidation are coordinated in line with the related
regulations,
• Reporting, presenting opinions and making recommendations to the Board on the functions, operations and related policies and
regulations of the internal systems and the divisions that are part of the internal systems,
• Evaluating the information and reports received from the independent audit firms and the divisions that are part of the internal
systems, about their operations,
• Ensuring that the Bank’s financial reports are prepared in line with the related legislation, regulations and standards,
• If required, gathering information, documents or reports from all Bank units, support service contractors and independent auditors
and being subject to Board approval, receiving consultancy from those who are specialists in their respective fields,
• Fulfilling other responsibilities determined by the related legislations and the duties given by the Board within this framework,
• Reporting to and informing the Board about the results of its own operations, the measures needed to be taken in order for the
Bank’s operations to be within the framework of the related legislation and Bank policies in a continuous and secure way and its
evaluation, opinion and recommendation on any other issues that are deemed to be important.
In 2013, Audit Committee held 28 meetings with full participation and adopted 38 resolutions.
Turkish Republic of Northern Cyprus (T.R.N.C.) Internal Systems Committee
As per the resolution of the Board of Directors, dated 15.06.2009, Nr. 35546, T.R.N.C. Internal Systems Committee is established
within the framework of T.R.N.C. Banking Law and related regulations. The Committee has two members and as per the resolution of
the Board of Directors, dated 30.05.2011, Nr. 37576 the Committee is chaired by Mrs. Füsun Tümsavaş, who is the Vice Chairman of
the Board of Directors. The other member of the committee is Prof. Dr. Savaş Taşkent, who is also a member of the Board.
The Committee holds meetings at least twice a year provided that a six month period is not exceeded and informs the Board of
Directors on the results of its own activities, its opinion on the measures needed to be taken and the necessary practices to be
implemented by the branches, that operate under T.R.N.C. office, and other important issues in order for these branches to operate
in a secure way.
T.R.N.C. Internal Systems Committee is responsible for ensuring the efficiency and sufficiency of the internal systems provided
by the Bank in relation to the operation of the branches, that operate under T.R.N.C. office; ensuring the operation of the internal
systems, accounting and reporting systems in line with the law and related regulations and ensuring the integrity of the produced
information; carrying out the preliminary assessment of independent audit firms and other companies providing services directly
related to other banking operations to be selected by the Board; and monitoring regularly and coordinating these companies that are
selected and contracted by the Board.
In 2013, the T.R.N.C. Internal Systems Committee held 8 meetings with full participation and adopted 10 resolutions.
İşbank Committees
Corporate Governance
71
İşbank
Annual Report 2013
