The Company’s internal audit function assists the Board of Directors in its supervisory role.
Operating principles and role of the internal audit unit
The internal audit unit assists the Board of Directors in its supervisory role by obtaining through its audit work information on the adequacy and functionality of risk management and internal controls in Lemminkäinen Group and its business units. The internal audit unit assesses in its work the economy and efficiency of resource usage, the reliability of reporting, the protection and security of assets, and the observance of regulations, operating principles and instructions. The operating principles of the internal audit unit are defined in the internal auditing directives approved by the Board of Directors.
Status and reporting relationships of the internal audit unit
The internal audit unit is subordinate to the Board of Directors and operates under the supervision of the President & CEO. The internal audit unit consists of an audit manager and as many internal auditors as required for the unit to carry out its work. Internal auditing resources are strengthened when needed by procuring internal auditing services from outside service providers. The internal audit unit reports functionally to the Audit Committee of the Board of Directors and administratively to the President and CEO.
Updated 26.3.2010