The Audit Committee was set up to assist the Board of Directors in the performance of its audit and supervision functions. The Committee is responsible for:
- Monitoring the effectiveness and adequacy of Garanti
- Bank’s internal audit, internal control and risk management systems; and overseeing the operation of these systems and accounting and reporting systems in accordance with applicable regulations, and the integrity of resulting information,
- Conducting necessary preliminary evaluations for the selection of independent audit firms, appraisal and support services providers, and regularly monitoring their activities,
- Ensuring that the internal audit functions of consolidated entities are performed in a consolidated and coordinated manner,
- Developing the audit and control process in order to ensure ICAAP adequacy and accuracy,
- Monitoring the policies, procedures, regulations and similar documents under its responsibility with respect to necessary updates, and taking action to keep them up-to-date.
In 2018, the Committee held four meetings with the required quorum.
Ricardo Gomez Barredo (Independent Board Member), Sema Yurdum (Independent Board Member), Jorge Saenz Azcunaga Carranza (Vice Chairman)