Ernst & Young Audits Metrostav

An audit conducted by Ernst & Young, s.r.o. has concluded that the internal auditors of the Metrostav Group, the largest Czech construction company, proceed with professional care and diligence, in line with the principles of objectiveness and impartiality set forth in the Professional Practice of Internal Audit of the Institute of Internal Auditors (IIA). Aimed at assessing the quality of Metrostav's internal audit, the review lasted from March to June, and was completed with the awarding of an official certificate. E&Y auditors examined the conformity of the Metrostav Group's internal audit to the IIA standards, assessed the degree to which the firm makes use of best internal audit practices, and subsequently identified Metrostav's internal audit-related strengths and weaknesses. The final report concludes that Metrostav's internal audit processes are highly professional, conform to IIA standards, and rely on objective and independent methods that allow them to examine the audited areas with the required degree of detail. In the context of the Czech Republic, Metrostav's internal audit is above-average in terms of effectiveness, and is highly capable of covering all risks and of providing assurance as to the integrity of the firm's operations, thanks to a robust, respected, professional and proactive approach.