The Corporate Audit Department is an independent function which provides Philip Morris International (PMI) senior management and the Audit Committee of the Board of Directors with objective assessments of the adequacy and effectiveness of the Company’s internal control systems. These assessments help us deliver value to our shareholders and earn the respect and trust of investors.
In particular, the Corporate Audit Department assesses the controls, procedures, and systems in place to ensure:
- reliability and integrity of financial and operational information;
- safeguarding of assets;
- compliance with Company policies; and the
- cost-effective and efficient use of resources.
In doing so, the Corporate Audit Department gives additional assurance to PricewaterhouseCoopers SA that the Company’s operations are appropriately controlled and monitored.
The Corporate Audit Department has helped PMI’s businesses enter developing and emerging markets, where it works with management to bring local controls and processes up to the standards demanded by PMI.
The entire Finance Department, of which Corporate Audit is a part, works to see that PMI maintains appropriate management systems and controls as the Company strives to build shareholder value and deliver long-term business success.