| Professional Competence |
| 1. | The Department Director and the Internal Auditors shall have the necessary knowledge and skills to perform the Department’s duties and maintain its effectiveness. To this end, they shall:
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| | a. | Obtain academic certificates in accounting, auditing, business administration, or other areas related to internal audit, and preferably internal audit or accounting professional certificates, including but not limited to: CPA, CIA, SOCPA.
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| | b. | Have sufficient internal audit experience and the necessary skills to fulfill their responsibilities.
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| | c. | Receive adequate and necessary training on an ongoing basis to meet the technical requirements of the Company's activities.
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| Independence and Objectivity |
| 2. | The Department shall report directly to the Audit Committee, and the Department Director and Internal Auditors shall be fully independent and objective in performing their work. To this end, they shall:
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| | a. | Have the freedom to directly discuss the Department’s views, findings, evaluations and conclusions with the Audit Committee and the Board.
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| | b. | Examine documents available to the Executive Management or other business units in the Company.
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| | c. | Reject any tasks not related to the internal audit function.
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| | d. | Perform their duties in all business areas and units of the Company without any restrictions from the Executive Management or any unit other than the Department.
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| | e. | Have the right to summon a meeting with the Audit Committee at any time, whenever needed, to discuss any topic the Department wishes to address.
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| Professional Ethics |
| 3. | Taking into account the Code of Conduct and Work Ethics in Financial Institutions issued by SAMA and other relevant instructions, the Department Director and the Internal Auditors, when carrying out the Department tasks, shall:
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| | a. | Be professional, honest, and trustworthy.
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| | b. | Maintain the confidentiality of information obtained while performing their tasks and not misuse it for personal purposes or carry out harmful activities, even after leaving the Company.
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| | c. | Avoid conflicts of interest when performing tasks, clearly and explicitly disclose conflicts of interest (if any), and deal with them according to the policy approved by the Company’s Board for dealing with conflicts of interest.
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