Integrated Risk Management
Our Enterprise Risk Management approach allows to define, evaluate and own all kinds of events that may prevent our company from reaching its strategic goals and further enables risk management in a consistent, comprehensive and economical way.
Borçelik, which aims to effectively manage its risks throughout the organization in an integrated and consistent manner, intends to realize Enterprise Risk Management and achieve the following objectives with Internal Control, Internal Audit, Quality Management Systems and Business Process Management Systems infrastructure:
To ensure the establishment of a risk and opportunity-oriented culture and governance structure within the company.
To raise the awareness and strengthen the ownership of the process owners with regard to the risks and opportunities.
To design and develop business processes so as to include appropriate controls with the aim to support effective decision making.
To improve compliance with legal and regulatory practices.
To ensure that operations are executed in accordance with the Company/ Borusan Group practices (policy, procedure etc.).
To ensure company operations to comply with the determined ethical rules framework and to take the necessary measures to reduce the risk of fraud and corruption.
Improve the consistency of strategic and operational goals with the aim to increase the confidence of shareholders, customers, financial institutions and other stakeholders.
To contribute to the achievement of the company's goals by increasing the effectiveness and efficiency of company resources.
To support a sustainable business model by reducing unexpected events and fluctuations and improving predictive ability.
To provide assurance to key stakeholders both inside and outside the company on the effective management of the risks.
The Company's Enterprise Risk Management approach has been prepared based on the COSO (Committee of Sponsoring Organizations) framework. Risk analyzes of our operational and financial processes are performed in the manner and within the time frames stipulated by both frameworks; risks are monitored and reported to Senior Management with an integrated approach