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Audit
External audit
Since 2019, the external audit of the QIC financial statements has been conducted by KPMG Audit LLP. The current long-term agreement for the audit of QIC’s financial statements is valid for the period from 2024 to 2026. The total contract value amounts to KZT 424,560,000 (four hundred and twenty-four million five hundred and sixty thousand), including VAT:
- for 2024 – KZT 125,440,000 (one hundred and twenty-five million four hundred and forty thousand), including VAT;
- for 2025 – KZT 141,360,000 (one hundred and forty-one million three hundred and sixty thousand), including VAT;
- for 2026 – KZT 157,760,000 (one hundred and fifty-seven million seven hundred and sixty thousand), including VAT.
Financial audit services (audit of financial statements) for the period 2024–2026 include:
- semi-annual review of financial statements;
- interim audit of financial statements for the nine-month period;
- audit of annual financial statements.
financial audit services (financial statement audit) for 2020;
- semi-annual financial statement review;
- interim audit of financial statements for 9 months;
- audit of annual financial statements;
financial audit services (financial statement audit) for 2021;
- semi-annual financial statement review;
- interim audit of financial statements for 9 months;
- audit of annual financial statements;
Internal audit
The primary objective of the Internal Audit Service is to provide independent and objective assurance and advice to the Board of Directors, aimed at improving QIC's operations and enhancing the effectiveness of the company's governance, including risk management, internal control, and corporate governance.
To ensure the independence and objectivity of internal audit, the Internal Audit Service reports directly to the Board of Directors.
In conducting its activities, the Internal Audit Service is guided by the laws of the Republic of Kazakhstan, the Charter, the Corporate Governance Code, internal regulations governing the Internal Audit Service activities, as well as the International Professional Practices Framework for internal auditing, which includes the Global Standards, the Topical Requirements, and the Global Guides of The Institute of Internal Auditors.
