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stc
Annual Report
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A brief overview of stc
Group

 

,The performance, activities

and investments of stc Group

and its subsidiaries during

the year 2022

 

Risks management

and transactions with

related parties

 

Board of Directors and
Committees

 

Dividends Policy and Distribution

and Board Recommendations and

Compensation

 

Conclusion

 

Financial Consolidated

Statements

A brief overview of stc Group The performance, activities, and
nvestments of stc Group and
its subsidiaries during the year 2022 Risks management and transactions
with related parties Board of Directors and Committees Dividends Policy and
Distribution and Board
Recommendations and Compensation Conclusion Financial Consolidated
Statements
Sustainability

The Internal Audit

stc’s internal audit provides an independent, objective, reasonable assurance and consulting activity designed to add value and improve stc’s operations. It helps stc accomplish its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

stc’s internal audit has conducted several assurance audit reviews as per the annual audit plan, approved by stc’s Audit Committee, to provide a reasonable assurance regarding the effectiveness and efficiency of risk management, control, and governance processes in stc focusing on high-risk functions and processes. In addition, stc’s internal audit has provided consulting services, in cooperation with executive management, with the aim to contribute in enhancing the effectiveness and efficiency of stc’s operations, reducing costs and minimizing, revenue leakage, review the interim and annual financial statements, and coordinating with external regulatory authorities and supervisory bodies. The results of stc internal audit’s assurance and consulting reviews did not reveal any significant observations that could affect stc’s ability in continuing its operations.

The Internal Audit

stc’s internal audit provides an independent, objective, reasonable assurance and consulting activity designed to add value and improve stc’s operations. It helps stc accomplish its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

وstc’s internal audit has conducted several assurance audit reviews as per the annual audit plan, approved by stc’s Audit Committee, to provide a reasonable assurance regarding the effectiveness and efficiency of risk management, control, and governance processes in stc focusing on high-risk functions and processes. In addition, stc’s internal audit has provided consulting services, in cooperation with executive management, with the aim to contribute in enhancing the effectiveness and efficiency of stc’s operations, reducing costs and minimizing, revenue leakage, review the interim and annual financial statements, and coordinating with external regulatory authorities and supervisory bodies. The results of stc internal audit’s assurance and consulting reviews did not reveal any significant observations that could affect stc’s ability in continuing its operations.