The Supervisory Board of Scope Ratings AG is composed of three members with two of the three seats filled by persons who are not directly involved in the rating activity (INEDs). It is a control and support function for Scope Ratings in the implementation of its tasks as a rating agency. The Supervisory Board of Scope Ratings operates according to a governance charter and supporting board procedures to ensure that each respective board has oversight of all Scope policies and procedures related to the
- Creation, maintenance and enforcement of policies and procedures for determining credit ratings.
- Creation, maintenance and enforcement of policies and procedures for addressing, managing and disclosing conflicts of interest.
- Effectiveness of the internal control system with respect to policies and procedures for determining credit ratings.
- Compensation and promotion policies and practices of Scope.
It is to be noted that INEDs will focus on the review and monitoring of the following areas:
- Surveillance of the rating agencys rating policy.
- Effectiveness of the internal quality control system in relation to the rating agencys rating activity.
- Effectiveness of the rating agencys Compliance Function.
- Effectiveness of the rating agencys Review Function.