Corporate Governance

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Corporate Governance

SEII is committed to applying Corporate governance, an audit committee is one of the important tools to promote such commitment.

The Audit Committee

The committee was formed to ensure the integrity and independence of all business dealings. The committee works on aiding the board of directors in the supervision of the company’s financial processes and regulations. In this capacity, the committee focuses on the following:

1- Ensuring the efficiency of the internal audit system.

2- Ensuring the creation of sound financial statements.

3- Ensuring the efficiency and independence of the company’s external auditor.

4- Making sure that the company’s internal audit department is fulfilling its duties with the required efficiency. In addition, the committee oversees the internal audit’s process.

5- Presenting the board of directors with recommendations and periodic reports concerning the company’s operations.

The Committee’s Guidelines:

Each committee member works independently and objectively to ensure the achievement of the company’s general interests according to its statute, charter, and by-laws. If a member of the committee has come to know of any potential conflict of interest, the member must disclose of said conflict to the board of directors.


The committee provides the board of directors with periodic reports according to the company’s regulations, and that is based on the BOD’s request or the committee’s recommendation. In all cases, the committee should present the board of directors with an annual report on its activity and the results of the annual audit to determine the committee’s effectiveness.