The Board elects members to an Audit Committee, a Remuneration Committee and/or a Nomination Committee from amongst its members each year after the AGM when needed. The committees assist the Board of Directors by preparing matters falling within the competence of the Board. The Board remains responsible for the duties assigned to the committees. The committees have no decision-making authority of their own, and the decisions within its competence are taken collectively by the Board. Committees will not be established if the extent of the company’s business does not require it and then the Board itself performs the tasks of the respective committees.
In its organization meeting held after the Annual General Meeting on March 16, 2018, the Board of Directors established an Audit Committee to deal with the preparation of matters relating to the company’s financial reporting and control. The Audit Committee’s primary duties and responsibilities are to serve as an independent and objective party to monitor Company’s financial reporting process and internal control systems, review and appraise the audit efforts of the Company’s independent auditors and provide an open avenue of communications among the independent auditors, financial and senior management and the Board. The Board has set rules and procedures for the Audit Committee.
Members of the Audit Committee
|Kaarina Muurinen||Julianna Borsos||Matti Lahdenperä|
|Vice Chairman of the Board||Member of the Board||Member of the Board|
|Chairman of Audit Committee||Member of Audit Committee||Member of Audit Committee|