Audit Committee

In line with the principles of transparency, accountability, and financial discipline—which form the core pillars of corporate governance—Petro Imen Sharif Knowledge-Based Company established its Audit Committee in 2024 (1403 in the Iranian calendar). This committee, as one of the key entities within the corporate governance framework, plays a vital role in monitoring financial integrity, overseeing internal performance, and ensuring compliance with accounting standards and legal regulations.

The Audit Committee was formed with the aim of ensuring the accuracy and reliability of the company’s financial and operational information and is responsible for guaranteeing the independence, integrity, and transparency of the financial reporting system. Acting as a communication bridge between the Board of Directors, executive management, independent auditors, and the internal audit unit, the committee provides senior management with an accurate and analytical foundation for informed, data-driven decision-making.

Among the main duties and responsibilities of the Audit Committee at Petro Imen Sharif are:

• Reviewing and evaluating the company’s financial statements to ensure accuracy, transparency, and compliance with national and international standards;

• Overseeing internal audit activities and assessing the effectiveness of internal controls and financial systems;

• Coordinating and engaging with independent auditors to ensure the proper execution of audit processes;

• Monitoring and analyzing financial and operational risks associated with company activities;

• Providing corrective recommendations and improvement strategies for the financial and control systems to the Board of Directors;

• Reporting regularly and transparently to the Board regarding the financial status and compliance of company performance with approved regulations and policies.

The establishment of the Audit Committee marks an important step toward institutionalizing a culture of accountability and financial integrity within Petro Imen Sharif. By leveraging the expertise of its members in finance, accounting, and risk management, the committee aims to prevent errors, mismanagement, and potential deviations, thereby strengthening the stability and efficiency of the company’s financial system.

The Audit Committee serves not only as a mechanism for financial control and oversight but also as a strategic advisor to the Board of Directors, helping to enhance transparency, improve performance, and build stakeholder trust. With a forward-looking and scientific perspective, the committee strives to protect the company’s resources and assets while paving the way for sustainable, knowledge-based development.

Ultimately, the formation and operation of the Audit Committee at Petro Imen Sharif Knowledge-Based Company reflect the organization’s managerial maturity and commitment to modern principles of corporate governance, information transparency, and financial discipline—principles that establish a strong foundation for sustained trust, financial stability, and intelligent organizational growth.