The Company has a well-conceived and implemented Information Technology (IT) Governance Policy which seeks to ensure that IT is aligned with Cherat’s organizational goals and strategies and delivers value to the organization. The policy is designed to promote effective, efficient, timely, and informed decisionmaking concerning Cherat’s IT investments and operations. Specifically the policy aims to establish the IT governance structure and its associated procedures, roles, and responsibilities, as a critical component of the overall IT Management (ITM) Framework, which guides the management, implementation, and monitoring of IT investments for Cherat.

The Company’s IT Governance Policy is mainly charged with:

• Establishing a shared vision of how information technology can add value to the organization;
• Establishing information technology goals, and the strategies for achieving those goals;
• Establishing principles and guidelines for making information technology decisions and managing initiatives;
• Overseeing the management of institutional information technology initiatives;
• Establishing and communicating organizational information technology priorities;
• Determining information technology priorities in resource allocation;
• Establishing, amending and retiring, as necessary, organizational information technology and other technology related policies, and
• Determining the distribution of responsibilities between the IT Department and end users.