Internal Control and Risk Management: The Way We Work with the COSO 2013 Framework

In an increasingly dynamic organizational environment, internal control and risk management are essential to building strong and resilient companies. At WMC, these principles are part of the way we work: they guide our decision-making, strengthen operational execution, protect our people, and play a critical role in achieving our strategic objectives.

To support this approach, WMC uses the COSO framework, a globally recognized methodology that enables the design, implementation, and evaluation of robust internal control systems. These systems help ensure operational efficiency, the reliability of financial information, and regulatory compliance, while fostering corporate alignment, effective risk management, and strong organizational performance in a structured and consistent manner.

The Importance of Internal Control and Risk Management

Internal control and risk management are essential to the sustainability and success of organizations, as they help protect assets, prevent fraud, and support more secure strategic decision-making. When integrated with a preventive risk management approach, they enable organizations to anticipate risks, mitigate their impact, and make informed, confident decisions.

At WMC, this approach goes beyond formal policies and procedures. It is reflected in our daily actions, in how we analyze risks, and in the ownership we take over controls—becoming an essential part of the way we work.

Shared Responsibility Across the Organization

Risk management and internal control are shared responsibilities across the organization. Leaders and team members from all areas are expected to identify risks, apply controls, and escalate alerts in a timely manner.

This collective commitment strengthens our control environment and promotes a culture focused on risk prevention and accountability.

Looking Ahead

As WMC continues to evolve, internal control and risk management will remain key elements of the way we work. Guided by the COSO 2013 framework, we will continue to strengthen prevention, accountability, and continuous improvement to address environmental challenges and move forward with confidence toward new opportunities.