TO THE CHAIRMANSHIP OF
TOFAŞ TÜRK OTOMOBİL FABRİKASI A.Ş. BOARD OF DIRECTORS;
REPORT BY COMMITTEE RESPONSIBLE FOR EARLY DETECTION OF RISK AND
RISK MANAGEMENT
Date of Meeting
: 05.08.2014
No of Meeting
: 2014/04
Agenda
:
• Assessment of Company's financial, commercial and operational risks and
follow-up and reporting of Company's corporate risk activities.
Topics Discussed and Decisions Made:
• Based on quarterly actual results, volume of currency, liquidity and interest risks
within the frame of operational, commercial and financial risks have been
reviewed.
• Members of the Committee have been informed on the enterprise risk activities
and within the scope of activities of Internal Audit Unit.
Furthermore, information has been was provided on the following;
Debt ratios,
Liquidity ratios,
Other financial ratios,
FX risk,
Deposit allocations, counter party risk, banks,
Commercial receivables risks, distribution of receivables etc.
Mr. Gökçe Bayındır requested information on dealer risk management of
competition due to increasing fleet sales. Mr. Libero Milone emphasized on the
issue and requested the inclusion of additional guarantees of dealers to the
documents.
• Members of the Committee have been informed on the activities of the Legal
Department.
• Committee members requested additional information about new consumer law for
the next committee meeting.
• Information was submitted to the Committee on backwards control of dealers
regarding campaigns that Tofaş dealers gain by vehicle sales to customers. Details
of dealers that are found committing wrongful conduct in sales and the penalties
levied by Tofaş were presented.
-
Mr. Milone requested the following
study to be included to next meeting’s
agenda:
In addition to the existing Operational Risk Management, a pre-study and
information regarding Strategic Risk Management,
Special presentation regarding levels of Internal Control Levels.
EARLY DETECTION OF RISK AND RISK MANAGEMENT COMMITTEE
Gökçe BAYINDIR
Chairman
Board of Directors
Independent
Member
Libero MILONE
Member
Board of Directors
Independent
Member
İ. Cenk ÇİMEN
Member
Board of Directors
Member
Ali A. PANDIR
Member
Board of Directors
Member
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TO THE CHAIRMANSHIP OF TOFAŞ TÜRK OTOMOBİL FABRİKASI