Internal Management Control System

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According to the legal requirements on the internal control management (Order of the Secretary General of the Government no. 600/2018, Government Ordinance no. 119/1999, republished in 2003, further amendments), the company CONPET applies the Code of Internal Control Management.

In agreement with these regulations:

– by decision of the Director General of CONPET SA it is constituted the Monitoring Comittee of the internal control management system.

– it is developed and approved the “Code of Ethics and Integrity of Conpet SA” in accordance with the provisions of EGO no. 109/2011 on corporate governance of public enterprises, subsequent amendments and additions, and Order of the Secretary General of the Government No. 600/2018 on the approval of the Internal Control Management Code of public entities in conjunction with the requirements of Government Decision 583/2016 regarding the approval of the National Anticorruption Strategy for the period 2016-2020.

– within the company an ethics counselor is being appointed, by decision of the Director General and the staff of the organization signed a personal commitment to respect the rules of ethics and integrity contained therein.

The Monitoring Committee coordinates the process of updating the general and specific objectives. In accordance with the system procedure “Setting the objectives of CONPET SA”, SMART objectives are being determined at relevant levels and functions.

The process of risk management is the responsibility of the president of the monitoring committee and is documented in the “Risk management” system procedure.

The risks that could affect the objectives are identified and assessed and control measures for their mitigation are established, according to the provisions of the “Risk management” system procedure.

In order to strengthen the internal control management system, the Monitoring Committee shall draw up the Development program of the internal control management system, which is updated annually. The program includes relevant elements in implementing and developing the internal control management system for each standard included in the OSGG 600/2018.

The processes identified in the integrated management system (quality, environment, health and safety at work, energy) and the procedures documented on activities are used as control tools, development and implementation of new procedures for activities that may incur significant risks being a practice known by all employees.

The degree of implementation of internal control management standards is annually self-assessed and reported in accordance with applicable legal requirements.

Following the evaluation of the internal control management system in accordance with OSGG no. 600/2018, on 31.12.2018 it has been declared compliant and all 16 standards implemented.