Bahri Annual Report-2013

Chapter 2 Strategic Business Units and Support Departments Information Technology Department

to be in line with international standards and best practices. Moreover, an awareness campaign on data security targeting all employees of the Company was conducted, along with a comprehensive review on several levels, by internal and external bodies, as part of the continuous assessment program for increasing protection and security awareness. The latest audio and video communication systems were deployed in offices throughout the Company linking them through a single secured network, increasing communication efficiency and raising productivity and information sharing among staff at the lowest cost. This is in addition to the upgrading of the network and communication lines, installation of a number of servers to enhance the infrastructure of the Company’s systems, application of uniform standards for information technology across all the business units of the Company and benefiting from the sharing of relevant technical resources to reduce costs and increase efficiency. The Company’s official website and its pages on social networks or through Smart phone applications are regularly developed and updated. In addition, Bahri has provided electronic Hijri and Gregorian calendar applications, free for all through Apple based or Android based electronic global stores. staff has expertise in the areas of the Company’s core businesses with respect to the marine technical and operational aspects, in addition to their extensive experience in the Company’s activities and risk inherent in its business. The audit activities cover all sectors of the Company in accordance with a plan prepared in advance by the head of the Internal Audit and Control Department. This plan is discussed and approved by the Audit Committee functioning under the Board of Directors of the Company. The audit plan defines the tasks of the audit team through covering all activities of these sectors, whether financial, administrative, or technical activities, relating to the Company’s core businesses. This includes the scope of risk measurement as an essential part, as risk assessment is carried-out within this scope. The audit plan also verifies that the company’s business units, offices and subsidiaries implement policies, procedures, standards and effective monitoring systems and comply with international and local laws with regards to all the activities.

the system for the container terminal was reviewed and developed in order to raise efficiency and competitiveness. Some of the systems applications in place were upgraded to newer editions allowing users to benefit from new features and to enhance their performance. To reach a high level of efficiency across all business applications, teams were formed to review and assess current systems and to introduce enhancements increasing functionality breadth, especially when dealing with financial reports and developing detailed reports for monitoring the overall performance of various sectors of the Company. The system used for monitoring shareholder’s rights and the payment of dividends was also upgraded. The deployment and use of the integrated operational and commercial system for the Chemical Transportation sector was completed, in addition to the upgrading and modernization of the infrastructure of this sector linking it to the unified maritime network in order to take advantage of all common services. In order to ensure security of the data in accordance with the applicable systems and requirements in this regard, all internal procedures and policies have been updated records against any unauthorized access or misuse, and ensures the application of the accounting policies and the internal regulations and procedures of the Company in order to produce correct financial reports. The Internal Audit and Control Department seeks to achieve integration among the Company’s headquarters and its subsidiaries and regional offices, as it performs review and audit processes in accordance with the audit plan. The Department has conducted a review and trial examination of the accounts and documents of various offices, subsidiaries and branches, and has achieved its goals by completing those tasks according to the audit plan. Accordingly, it made the appropriate recommendations and proposals to the Audit Committee that undertakes the direct responsibility for the functions of this Department. The Internal Audit and Control Department is an independent function, which goes in line with the corporate governance regulations that are compatible with the latest international standards. The Department’s

Bahri has given considerable attention to information technology in line with its strategic plan to drive operational growth across various sectors. Bahri adopted a set of modern and sophisticated technological solutions in accordance with internationally certified best standards and procedures to achieve such growth. Information technology is one of the key instruments for accomplishing success and improving the level of efficiency when providing excellence and integrated high quality solutions in the marine industry. Bahri has continued to invest in many technological solutions to develop its infrastructures and to use the most updated business applications in order to promote its position as one of the leading companies in the shipping industry. As part of the Company’s IT strategy, the first stage of Manara 3 project to replace the system currently used by General Cargo Transportation Sector was completed in 2013. This stage included the review and re-engineering of all procedures in order to begin detailed designing of requirements to be fulfilled in the new system. In addition, work in the second stage of the project commenced, which includes actual application of the system, conduct a complete testing and provision of relevant training to the concerned employees and Company agents all over the world. Additionally, is working continuously to develop the capabilities and skills of its employees by applying modern technologies in the implementation of audit programs, trainings and keeping-up with the latest auditing developments and risk analysis. The Internal Audit and Control Department verifies that the Company’s business units and offices comply with established rules, standards, policies, procedures, control system, laws, regulations, etc. The Audit Department prepares its audit plans and programs related to the audit of risk management based on the international auditing standards. The Internal Audit and Control Department verifies the application of internal control systems at the company and its subsidiaries, which aims to protect the company’s assets as well as its accounting Internal Audit and Control The Internal Audit and Control Department consists of professional and highly qualified auditors, including excellent technical staff who have expertise in the operation and maintenance of vessels. The Department


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