Internal and External Audit
Internal audit
The Group does not have a separate Internal Audit organization due to the size of the Group’s operations. The Group Finance is responsible for regular reviews of financial performance and internal control procedures at all Group companies and reporting significant findings to the President and Chief Executive Officer and the Board. From time to time, the management conducts or buys external services, if needed, to conduct specific and limited internal audits.
The managing director and the controller of subsidiaries under audit scope meet annually with the local auditors to discuss internal control and statutory compliance issues. The auditors of subsidiaries provide an audit opinion to the auditors of the corporation at the conclusion of each annual audit.
Annual audit may also give rise to the preparation of a management letter to the corporation outlining their audit findings in greater detail and recommending any improvements in internal controls. In addition, the auditors of the corporation meet regularly with the Group management representatives to discuss and review the business and related financial, accounting, internal control and risk management issues.
As of January 1, 2024 Jean-Philippe Nicolle was appointed as Chief Operating Officer responsible for Internal Auditing.
External audit
Authorised Public Accountants Firm Deloitte Ltd was elected by the Annual General Meeting 2026 as the company’s auditor. Deloitte Ltd has informed that Authorized Public Accountant and Authorized Sustainability Auditor Jenny Lindvall will be the principal auditor. The auditor’s fee shall be paid according to the approved invoice.
The sustainability audit firm Deloitte Ltd was elected as the company’s sustainability reporting assurer. Deloitte Ltd has informed that Authorized Public Accountant and Authorized Sustainability Auditor Jenny Lindvall will be the principal sustainability reporting assurer. The sustainability reporting assurer’s fee shall be paid according to the approved invoice.