Internal Management Control System

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

In accordance with these regulations:

– by decision of the Director General of Conpet SA, the Commission for monitoring the internal management control system is established.

– the “Code of Ethics and Integrity of Conpet SA” is developed and approved, in accordance with the provisions of the Government Emergency Ordinance no. 109/2011 on corporate governance of public enterprises, subsequent amendments and additions, and of the Order of the Secretary-General of the Government no. 600/ 2018 on the approval of the Code of Internal Management Control of Public Entities and in conjunction with the requirements of GD 583/ 2016 on the approval of the National Anti-Corruption Strategy for the period 2016-2020.

– an ethics adviser is appointed within the company by decision of the Director General, and the staff of the organization has signed an individual commitment to comply with the rules of ethical conduct and integrity contained in that document.

The Monitoring Commission shall coordinate the process of updating the general and specific objectives. In accordance with the provisions of the system procedure “Setting the objectives of CONPET S.A.”, SMART objectives are determined at the relevant levels and functions.

The risk management process is the responsibility of the President of the Monitoring Committee and is documented in the process sheet, flow chart and “Risk Management” system procedure.

Risks that may affect the achievement of the objectives are identified and assessed and control measures for the mitigation thereof are established, as provided for in the documents of the „Risk Management” process.

In order to strengthen the internal management control system, the Monitoring Commission shall draw up the Programme for the Development of the Internal Management Control System, which shall be updated annually. The programme includes elements relevant to the implementation and development of the internal management control system for each standard contained in OSGG 600/ 2018.

The processes identified under the integrated management system (quality, environment, occupational health and safety, energy) and formalised procedures by activities are used as control tools, the development and implementation of new procedures for activities that can induce significant risks being a practice known to all employees.

Each year, the degree of implementation of the internal management control standards is self-assessed and reported in accordance with the legal requirements in force.

Following the evaluation of the internal management control system in accordance with the provisions of OSGG no. 600/2018, it was declared as complying at 31.12.2020, with all 16 standards implemented.