Adopt and maintain an Internal Control System that allows the achievement of the objectives, management, and results of the companies within the Group. Promote and consolidate an ethical culture based on corporate values.
Establish guidelines that allow for the identification, detection, evaluation, mitigation, monitoring, investigation, prevention, and correction of fraud and corruption risks. Grupo Energía Bogotá (GEB) is committed to a policy that describes, among other aspects:
- Adhering to and respecting the regulations applicable to the companies that are part of GEB.
- Taking a "Zero Tolerance" stance towards fraud, money laundering, financing of terrorism, and corruption.
- Promoting a culture of transparency to strengthen the Internal Control System.
Those responsible for the proper functioning of the Internal Control System and compliance with guidelines for the prevention of fraud, corruption, money laundering, and financing of terrorism include:
- Collaborators at the managerial level
- Internal control entities
- Customers, as applicable
To ensure compliance and preserve the integrity of the Internal Control System in GEB companies, they will apply the Three Lines of Defense model, as defined by the European Confederation of Institutes of Internal Auditing (ECIIA) standard, which outlines responsibilities for the Internal Control System as follows:
- First line of defense: Control is exercised by top management through process owners, who establish their own control activities (self-control) to mitigate risks and maintain effective internal control.
- Second line of defense: Supervision and monitoring functions. This line ensures that the first line of defense is operating as established.
- Third line of defense: Corresponds to independent assurance through internal audit activities.