Strong corporate governance is an integral part of the Company's core values and affects the way we direct our company and the relationship we have with interested parties. We believe that the highest standards of corporate governance are essential to our business integrity, performance and sustainable growth mission. SABIC is committed to having sound corporate governance principles and practices.
Internal Audit plays critical assurance and advisory roles to SABIC Board and Management to pursue the SABIC's mandate and the strategic goals. It independently evaluates the adequacy and effectiveness of the systems of internal controls in SABIC. It is a trusted adviser to assess and give assurance on Governance, Internal Controls and Risk Management. Read more on our internal audit.
Saudi Arabia Corporate Governance Standards
The CMA has issued a resolution to gradually apply corporate governance standards and requirements, from the beginning of the year 2012, on all companies in the Saudi capital market whether they were listed companies or licensed Authorised Persons. This is part of CMA's efforts to raise the quality, transparency and disclosure levels in the securities business sector in order to create a suitable investing environment.