Article 32
| No: 2/MFC | Date(g): 24/2/2013 | Date(h): 14/4/1434 |
Effective from Feb 24 2013 - Mar 07 2013
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It is prohibited in the Finance Company to combine an executive function such as financing or hedging and oversight function such as internal auditing or accounting tasks. A separation of functions must be adopted in a manner that ensures the application of the generally accepted policies, procedures, and technical standards, to protect the Finance Company’s assets and funds, and avoid fraud and embezzlement.