The Board of Directors is responsible for ensuring that the Group's internal control and risk management are adequate for the scope of the company's business operations, and that their supervision is appropriately organised.
The Board supervises the President and CEO to ensure that he or she handles the company's business operations and administration in accordance with the guidelines and instructions issued by the Board of Directors. In order to ensure adequate risk management, the Board of Directors discusses the Group's financial reports, business segment reviews and any substantial changes that have occurred in the company's business. The Board's Audit Committee also assesses the adequacy and efficiency of internal control and risk management.
The President and CEO is responsible for the organisation of internal control. Among other duties, he or she ensures that the company's bookkeeping complies with the law and that asset management is handled in a reliable manner.
Lemminkäinen's business is organised into business segments whose Executive Vice Presidents report to the President and CEO. The Group's other management and supervisors are responsible for internal control within their own areas of responsibility.
Business areas', business segments' and Group level financial reports and business reviews are a key measure to control and monitor the functions' efficiency and appropriateness. In addition, the Investment Board that convenes once a week decides on the Group's investments, project start-ups and tenders according to the defined approval limits.
Updated 23 February 2017