Directions of development of the Grupa Azoty Group’s management systems

  • Experience sharing and mutual support between the audit teams of individual Companies,
  • Management system audits and corporate action,
  • Enterprise Risk Management system. 
  • Experience sharing and mutual support between the audit teams of individual Companies

    The Group Companies employ well-trained and experienced auditors of management systems, and we always strive to ensure that our audit teams are composed of experts in their respective fields. 

    As the Group Companies have different experience, we see the expertise of their auditors as invaluable. The possibility of sharing lessons learned, and, in some cases, of undertaking joint audits by a team of auditors representing various locations and businesses of the Group may certainly bring added value. 

    Our activities should allow us to look at our already mature management systems from a fresh angle, by drawing on the experience of auditors from individual Group Companies.

    Management system audits and corporate action

    The management systems of the Group Companies, which have been in place for a number of years, are in line with international standards. Each Company supervises its management systems and seeks to enhance them by using one of the key tools for this purpose, i.e. internal audits. They are usually performed with the support of internal auditors, who are duly authorised employees of individual Companies. 

    The consolidation processes going on for the past few years have changed certain organisational structures, defining new areas where close cooperation between Companies is indispensable. How this should be done is regulated on an on-going basis through internal corporate procedures, orders, rules and instructions. With gradual extension of the audit functions and a shift towards corporate audits, we will be able to assess the degree in which the requirements of applicable standards have been implemented, as well as how effective they are in practice.

    Enterprise Risk Management system 

    Following in the footsteps of leading global corporations, the Grupa Azoty Group has implemented an integrated approach to enterprise risk management. Risk management is part of the Group’s overall management framework, as an element of sustainable protection and enhancement of its value.

    The ERM process will be based around consistent implementation of the following measures:
    Risk identification and assessment,
    Definition and deployment of risk response measures and plans,
    Monitoring of risk levels,
    Risk reporting,
    Monitoring and evaluation of the ERM process.

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