 Welcome back to corporate governance and we are moving forward with our series pertaining to corruption, accountability, integrity and honesty and truth. Today, we are going to talk about the deduction mechanisms of corruption and we will see how the corporate sector can be made more accountable, more transparent and they can avoid corruption in a better way. Now, when we are looking at one of the most effective tools which is called audits, then they can be an internal or an external audit. Now, a formal investigation of an organizational individual's accounts or financial situation is called an audit. So, we have talked about audits before also, but in this context, audits can be internal meaning that they are conducted by the organization itself or external that there is an independent entity conducting the audit or internal audits view items such as the effectiveness of an organization. So, again the internal audit is not only about the financial audit, but there are so many other aspects of the organization which the firm would be looking at or the internal audit department would be looking at. And then again what we see is that we could say that there is a financial audit and then there is a management audit. So, there are different types of audits and again both are very important in their own contextualization especially in the fact that nowadays companies are using sophisticated methods and also software to try to hide whatever corruption they are doing or lack money they are accumulating. So, it is challenging for the different audit firms even to find out or to trace back track where corruption is basically emanating from. As examples in South Africa auditors are legally required to report any suspicious activity. In many countries the role of an external audit or public institutions is assigned to specialized governmental body such as Supreme Audit Institution or National Audit Office. Establishment of the Spanish General Comptroller of the State Asperation Way Back in 1874 are all examples of how corruption is being curbed and what are the mechanisms which can be used for it. The institution of the Auditor General of Pakistan through Article 168 of the Constitution and therefore the Auditor General Office is a constitutional post. The Securities Exchange Commission of Pakistan is the regulatory body for all public and private sector according to Companies Act 2017. The advent of blockchain technology has made audits more effective and another example is white paper produced by one of the Swiss companies again. So, again what we see is that there are different levels and different forms of having accountability and also ensuring that there is a better audit at the end of the day. One of the infamous examples, one of the earliest examples is the CMIS cooperation scandal showed that audit systems can also fail. In 2006, a police investigation unfolded that the CMIS cooperation had used bribes and corruption for business gain and therefore in 2008, as a settlement, CMIS basically paid 1.6 billion to American and European authorities as part of the settlement. So, what we see is that, one, there are different mechanisms, two, it could be internal or external audit, three, it is extremely important that truth and honesty is being exhibited by all of the employees to ensure that a better environment can emerge and then if not then there is always this possibility that it can be done externally and then there are external audits which are again very thorough and very important and they form a basis for the board to come up with a different strategy or a different tactics to ensure that the best possible way of doing business is being followed by that organization and we see some of the best organization in the world like Siemens, they had to pay 1.6 billion fine as a settlement which again shows how this has permeated not into Pakistan as a third world country but across the world and across different institutions and therefore it is very important that we have the right mechanisms to ensure that this is not spread, actually it should be curtailed at all levels and all forms and therefore there should be a genuineness in ensuring that the audit is being done in the best possible way. Thank you so much.