Internal Audit

Internal Audit Function

The Internal Audit Manager and Risk, Mr Deven Ramasawmy, reports to the Audit Committee and administratively to the Chief Executive Officer. The Audit Committee approves the yearly plan of the internal audit manager which comprises the following main responsibilities: 

•    Determining the adequacy and effectiveness of the systems of internal accounting and financial reporting of the Company;
•    Reviewing management controls designed to safeguard Company resources and verify the existence of such resources; 
•    Determining whether adequate controls are incorporated into information technology systems and the overall IT administrative functions; 
•    Appraising the use of resources with regard to cost, efficiency and effectiveness;
•    Reviewing compliance with Company policies, plans and procedures to ensure achievement of business objectives;
•    Investigating suspected fraudulent activities within the organisation and notifying the Audit and Risk Committee and Management of the results;
•    Coordinating with and having oversight of other control and monitoring functions (risk management, quality assurance, security and safety);
•    Issuing periodic reports to the Audit and Risk Committee on the results of audit activities and management plans to address audit observations; and
•    Following-up of implementations of action plans to address significant weaknesses identified.

The internal audit team has unrestricted access to the records, management and employees of the Group. The Internal Audit Manager has the responsibility of ensuring that internal controls are implemented at Group level, except for Meaders Feeds Ltd which has its own internal audit function.



Brief profile of the Internal Audit Manager

Mr Deven Ramasawmy is a member of the Association of Chartered Certified Accountants, UK. He joined the Group in 2014 as Internal Audit Executive and is now the Group's Internal Audit Manager. Previously, he has worked for Shibani Finance and Poivre Corporate Services as Internal Audit Manager.