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Specialized committees

Update: 2024/09/08

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In order to fulfill its duties and to increase wealth and create economic added value for shareholders, in line with fulfilling its social responsibilities to society, Kourosh Food Industry Company has always been diligent and determined in realizing the interests of all stakeholders. Given the commitment of the Board of Directors to realize this important matter, paying attention to the correct and efficient establishment of the requirements of desirable corporate governance and direct supervision of its realization is of particular importance. For this reason, the organizational structures and decision-making methods in the company have been formed in a way to accelerate the realization of these goals. In this regard, specialized committees and relevant executive units have been established in accordance with the existing regulations for this purpose. Including the specialized committees that have been established as follows and perform their duties with the full supervision of the Board of Directors.

Corporate Governance Committees

Audit Committee

Committee Duties

  1. Monitoring the effectiveness of the company’s internal control systems, including information technology control and maintaining their security.
  2. Obtaining reasonable assurance of the adequacy of the scope of the internal auditors’ review of the company’s internal control system.
  3. Obtaining reasonable assurance of the effectiveness of the risk management process, including identification, measurement, analysis, evaluation, management, and monitoring of the risk management system.
  4. Reviewing the internal auditor’s assessment of internal controls and the independent auditor’s opinion on internal controls.
  5. Following up on the implementation of recommendations and addressing weaknesses in internal controls reported to the committee by internal or independent auditors.
  6. Submitting internal control reports to the board of directors, including an assessment and opinion on the internal controls of subsidiaries.

Committee members

Rajab Jalalvand

  • Non-Independent Member
  • Position: Committee Chairman
  • Non-Executive Board Member: Yes
  • Field of Study: Financial Management
  • Educational Qualification: Master’s Degree
  • Deputy for Supervision and Evaluation of Kourosh Investment Holding, Board Member of Golrang Industrial Group Companies

Mohsen Akbari

  • Position: Committee Member
  • Non-Executive Board Member: No
  • Field of Study: Accounting
  • Degree: PhD
  • Internal Audit Member of Golrang Industrial Group, Member of the Iranian Association of Internal Auditors, Internal Audit Manager of Golrang Pharmaceutical Holding, Internal Audit Manager of Kourosh Investment Holding.
  • Independent Member

Farhad Ramezan

  • Position: Committee Member
  • Non-Executive Board Member: Yes
  • Field of Study: Economic Sciences
  • Educational Qualification: PhD
  • Financial and Economic Manager of Aram Plast Company, Financial Auditor of the Financial Organization, Director of Industries and Investment of the National Investment Company of Iran, CEO of Economic and Self-Sufficiency Holding, Deputy Chief Economic Officer of Barakat Foundation Holding, Deputy Chief Investment Officer and Deputy CEO of Shafa Daru National Development and Investment Company, CEO and Board Member of Ansar Exchange, Professor at Allameh Tabatabaei University
  • Non-Independent Member

Hamid Khadem

  • Position: Committee Member
  • Non-Executive Board Member: Yes
  • Field of Study: Accounting
  • Educational Qualification: PhD
  • Seventeen years of auditing experience and participation in auditing firms, member of the Society of Certified Public Accountants, Rayhaft & Associates and Azmoun Pardaz, representative of tax dispute resolution boards and official expert in the judiciary
  • Independent Member

Danial Mahjoub

  • Position: Committee Member
  • Non-Executive Board Member: Yes
  • Field of Study: Business Management
  • Educational Qualification: PhD
  • Director of Azmoun Pardaz Auditing Institute, Deputy Finance and Administration Officer of Datam Trade Development Company, Audit Manager and IFRS Unit Manager, Managing Director of Datam Financial Group, Vice Chairman of the Board of Directors at Hafez Investment Consulting Company, Vice Chairman of the Board of Directors of Iran Zamin Exchange and Moein Azadegan Financial Services and Accounting Company
  • Independent Member

The company’s highest financial officer

Nemat Mohammadi

  • Position: Financial Manager
  • Field of study: Accounting
  • Degree: Master’s Degree

Internal Audit Manager

Mohsen Sadeghi

  • Position: Audit Manager
  • Field of study: Accounting
  • Degree: Ph.D.

Risk Committee

Committee Duties

  1. Review and evaluate risk management in the company.
  2. Review the status of the company’s risks according to the degree of risk tolerance and risk appetite determined by the board of directors and, if necessary, provide advice to the CEO or other units.
  3. Propose risk management approaches, strategies, and policies to the company’s board of directors.
  4. Monitor the establishment of an integrated risk management system program or framework in the company and follow up on its implementation.
  5. Monitor the performance of the company’s risk management unit.
  6. Identify deficiencies in risk management for proposal to the board of directors.
  7. Obtain reasonable assurance of the absence of overlap and possible gaps in supervision by holding meetings with other board committees.
  8. Obtain reasonable assurance of creating and promoting awareness of risk at the company level.
  9. Provide continuous reports on the status of various types of company risks such as financial and credit, legal and regulatory, strategic and commercial, operational, risks related to technology, information technology, and communications to the board of directors.
  10. Reviewing the performance, periodically monitoring the company’s risk management program or framework and evaluating its effectiveness and reporting to the board of directors.
  11. Using the necessary platforms to receive reports and risk-related issues from all stakeholders of the company.
  12. [Other matters at the discretion of the company’s board of directors]

Committee members

The risk management committee was formed based on the requirements of corporate governance and the powers delegated by the board of directors with the aim of helping them to achieve the goals and strategic plans of the company. While obtaining advice from experts and experienced experts in the field of financial markets, this committee tries to integrate the risk management of the company’s activities, provide the necessary suggestions in order to increase its productivity and help senior managers in making decisions. Also, this committee evaluates and controls the appropriateness of the company’s risk management framework on a monthly basis and reports the results to the board of directors.

Appointments Committee

The goal of organizations in the field of human resources is to attract and employ capable and key managers in the business environment as the most important pillars of productivity and excellence. In this regard, Koresh Food Industry Company has formed this committee with the aim of systematizing and promoting the process of attracting and appointing competent people in the management and executive structure of the company. In principle, this committee, within the framework of the rules and structure stipulated in the regulations and guidelines of corporate governance, ensures the increase in the effectiveness of the appointment process by meticulously and expertly assessing the professional and general knowledge and skills of candidates for organizational positions.