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Home >> Governance and Ethics >>

Committees

The Audit Committee

The audit committee was formed by BOD of PIIC to keep up with the expansion of the company's investments and its subsidiaries and affiliates, and to comply with the requirements of the Corporate Governance guidance in Palestine, that issued on November 2009.
The main objective for founding this committee is to assure the independency and professionalism of the external audit and to assure that internal audit department is performing its duties in high level of efficiency and neutrality , in order to improve the transparency of the company’s accounts and appropriate disclosure for shareholders & other stakeholders in general ,and adequate details about the type, level of risk in the company in specific.
The board also set up the tasks and authorities for the audit committee which include , directing and supervising the duties of the internal audit department in the company in order to raise all the reports of internal and external audit to the BOD, the Audit Committee holds regular and emergency meetings when needed. These meetings are documented in the right way and all recommendation and decisions are raised up to BOD to take the appropriate decisions.

Executive Committee for Investment

Executive committee for investment is one of BOD committees, it  was formed to find the appropriate mechanism to follow up the implementation of the BOD Investment and other decisions by the executive management of PIIC.
(Executive committee for investment is responsible for developing a mechanism to follow up the implementation of investment strategy and plans adopted by the BOD and raising its recommendations to the BOD about new investment opportunities and periodic evaluation of current investments.
This Committee holds a regular and emergency meetings when needed, these meetings are documented in the right way by the coordinator of the Committee, and all recommendation and decisions are raised up to BOD to be informed or to take the appropriate decisions.

Governance Committee

Governance committee was formed by BOD in line with the requirements of the Corporate Governance guidance in Palestine, that issued on November 2009, it includes three of BOD members.
The main objective for this committee is to lead and supervise the strict and appropriate implementation of the General rules of governance in the company.
This Committee is responsible for directing ,supervising the implementation of the requirements of Governance guidance at PIIC and is assisting to overcome the obstacles that appears every time, the committee holds one meeting at least every three months and emergency meetings when needed , ,these meetings are documented in the right way by the coordinator of the Committee, and all recommendation and decisions are raised up to BOD to take the appropriate decisions.
 


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