To test our internal functions across the Group, Gunvor established an Internal Audit Department to provide independent and objective assessments of business activities, operations, financial systems, and the internal control environment of Gunvor.
The Audit team conducts between 15-20 internal audit engagements each year, covering activities such trading desks, assets, central functions and processes, joint-ventures and advisory mandates.
Findings have resulted in the reduction of overall risk and the correction of insufficiencies through enhanced controls and greater overall awareness about the seriousness with which Gunvor takes adherence to policy.
Where needed, Gunvor will also conduct consulting audits, which assist our understanding for benchmarking and assessment. These are conducted by Big Four firms, and international compliance experts further assist with the development of Gunvor’s global program.
Gunvor’s Audit team conducts between 15-20 internal audit engagements each year.