Fundamental to our success is our approach to corporate governance that goes beyond merely conforming to legal and statutory compliances. Corporate Governance strengthens an organization and provides a framework for nurturing a corporate culture based on integrity, effective risk management and responsible business practices.
At Almana Group, risk thresholds are communicated to division heads and the entire process is overseen by the Audit Committee through a system of checks and balances. The Group has adopted appropriate processes and procedures that are applied across the various functions – inventory, purchasing and payable, accounting, project management, ISO certification, safety and health and quality management. The Risk Management Group identifies and monitors risks faced by the Group and proposes appropriate measures where applicable.
We believe that compliance to the principles of corporate governance is a reflection of our corporate culture and a commitment to our values vital for our development.