TRANSPARENCY

EKH is thoroughly committed to transparency and disclosure practices. The Internal Audit Committee ensures that the company is fully transparent and in full compliance with the requirements of the Egyptian Exchange (EGX), on which EKH is listed. The Committee is comprised of four members, comprising three non-executive Board Members and one expert. The Audit Committee is responsible for investigating and revising EKH’s internal control procedures and levels of compliance; it also enacts precautionary measures to maintain the safety and stability of the Company’s assets, and ensures the removal of any potential conflicts of interest. The Audit Committee has also established an Internal Audit Department for EKH and its subsidiaries. The role of this department is to review all EKH activities and activities of its subsidiaries and to submit regular reports to the Internal Audit Committee and Board of Directors.

Audit and Internal Control Review Committee (AICRC)

EKH has allocated an Audit Committee that is made up of three non-executive board members and one specialized non-board member. The principal functions of the Audit and Internal Control Review Committee (AICRC) are to oversee the integrity of the Company’s financial statements and ensure compliance with legal and regulatory requirements. The Committee also monitors the adequacy of the Company’s accounting and financial reporting, its internal control processes and financial reporting processes. Further, the AICRC is responsible for the independence and evaluation of the external auditors it appoints.

Internal Auditing

Internal auditing improves business processes that will result in an increase in stakeholders’ value, as well as reducing risks and improving revenues. EKH’s internal auditing ensures that good governance is implemented and maintained; it guarantees that effective business processes, values and goals are established and communicated, and that the implementation and accomplishment of those goals are monitored to ensure accountability.

Investment Committee

The basic function of the Investment Committee is to communicate investment guidelines, and evaluate, approve and monitor existing investments at the group or business unit level. The Committee screens and evaluates ideas generated from rainmakers and assigns the M&A team with due diligence of the short-listed ideas, while providing guidance and following up throughout the transaction. The meeting is held on a quarterly basis.

Communication Committee

The Communication Committee provides an avenue through which department heads can communicate the status of existing projects and projects in progress. The Committee has a number of core objectives, including keeping the management team informed about developments in all projects, providing a platform for the exchange of ideas among management, allowing for the discussion of outcomes of subsidiary board meetings and sharing knowledge gained from conferences and exhibitions. The meeting is held on a quarterly basis and follows the Investment Committee meeting.