The task of the Audit Committee is to prepare, direct and evaluate financial reporting as well as auditing, internal auditing, risk management, legal risks and internal monitoring systems. The Audit Committee assesses the independence of the auditor and prepares the proposal of the Board of Directors to the Annual General Meeting regarding the appointment of the auditors. The Committee does not have independent decision-making power, so it only prepares proposals for the Annual General Meeting.
The Audit Committee consists of the Chair and two members appointed annually by the Board from among its members. Overall, they must have sufficient knowledge of accounting and auditing. The majority of the members of the Audit Committee shall be independent of the company and at least one member shall be independent of the company’s significant shareholders. The Audit Committee meets whenever necessary, but at least four times per year led by the Chair of the Committee.
The Rules of Procedure of the committee are attached (Appendix 3).
FY 2024 The members of the Audit Committee are Eeva-Liisa Virkkunen (chair), Dick Hordijk and Stefan Damlin.