7
Internal
Assurance
Internal Audit is
currently responsible
for executing an audit
plan on financial
controls testing
as well as audits
of the Company’s
HSES program,
Well Integrity
Management System,
Anti-Corruption
Compliance, and
Supply Chain
processes, to name
a few. Our Internal
Audit department
reports to the Board
of Directors’ Audit
Committee.
This year, Internal
Audit has provided
internal assurance
on a subset of the
data in this Corporate
Responsibility Report,
as well as conducted
a review and provided
recommendations
on the processes by
which statistical data
are defined, collected
and consolidated.
CORPORATE PRACTICES AND POLICIES
Community and Stakeholder Engagement
We reviewed our existing social investment projects and refreshed forward-looking plans to ensure they aligned with our
Community Development and Stakeholder
Engagement Policy. We also rolled out a
detailed Social Investment Manual, outlining corporate expectations regarding program design and project selection criteria,
to help ensure that our efforts are sustainable and aligned with local development
priorities.
Health, Safety, Environment
and Security (HSES)
Kosmos introduced an internally-branded
management system called The Standard,
which centralized our HSES policies and procedures. The Standard sets clear expectations and associated performance measures
that are used to plan and monitor our corporate, country and project-level activities.
Kosmos also achieved high HSES performance in 2013. Key performance indicators
for the year (see 2013 Performance Data on
p. 28) were based on industry benchmarks
reported by the Oil and Gas Producers Association, as well as
internal objectives
for well integrity and
behavioral-based
training. In 2013 we
improved our internal systems and
THE FRAMEWORK
tools to minimize security risks to personnel
during business travel and on Kosmos sites.
Kosmos remains dedicated to achieving an
injury-free workplace. As such, we have established new safety targets for 2014 based
on our previous three-year average Total
Recordable Injury Rate and Lost Time Injury
Frequency. In addition, we have added new
metrics to track and measure the frequency
and potential severity of near miss incidents,
the effectiveness of improvements to the
HSES management system, and overall HSES
readiness for our 2014 drilling campaigns.
In 2014, we plan to provide more accessible
Health and Safety training and on-boarding
for the global workforce, as well as enhanced
self-assessment tools for measuring performance within the HSES management system.
Public Policy Engagement
In addition to our processes and policy
framework, Kosmos takes an active role in
the broader discussions occurring globally
around corporate responsibility policy. We
have been involved with several global institutions regarding policy development and
best practices. We have also engaged with
governments in West Africa on emerging policy issues such as transparency, good governance, and human rights. We believe that
our engagement on these issues is not only
contributing to more effective public policies
for generations to come, but is also helping
position Kosmos as a partner of choice.