Internal Audit Service

The Internal Audit Service of Air Astana JSC was created in December 2007 by the decision of the Board of Directors of the Company.

The mission of the Internal Audit Service is to provide assistance to the Board of Directors and the President in performing their duties to achieve the strategic goals of the Company through the provision of independent and objective assurance and consulting activity designed to add value and improve the assessment of effectiveness of internal control system, risk management and corporate governance.

The Service is a Corporate Body that provides the organisation and implementation of internal audit in the Company and reporting directly to the Board of Directors. The Audit Committee carries out the supervision of the Service’s functions.

Audit process

Activity of the IAS is performed in accordance with the Audit Plan approved by the Board of Directors.

During its work the IAS is guided by approved Regulations of IAS, Methodological guidelines for organization of Internal Audit as well as International Standards for Professional Practice of Internal Auditing.

Software TeamMate is used for planning, execution and storage of audit engagements as well as tracking of audit issues and recommendations.

  • Audit engagements are fulfilled in accordance with established Audit Plan and deadlines;
  • All recommendations are graded for significance and have agreed management actions and owners;
  • The progress of recommendations actions is tracked by Internal Audit Service in accordance with established deadlines.

Conformance with the Standards 1

The IAS activity conforms to the International Standards for Professional Practice of Internal Auditing that was confirmed by KPMG Tax and Advisory LLP, a qualified, independent external assessor in April 2016.

External assessment of the IAS activity was performed against two areas of the Standards (Quality characteristics standards and Performance standards) and best international practice.

According to the issued report the IAS complies with 48 standards out of total 48 standards.

In the framework of assessment, the maturity level of the IAS activities against best international practice characterizes as «Advanced» in relation to KPMG methodology.

[1] International Standards for Professional Practice of Internal Auditing