Internal control and audit

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INTERNAL CONTROL AND AUDIT

The objective of internal control at Harvia is to ensure the realization of the company’s strategic, financial, operational and procedural targets, and to ensure compliance with applicable laws and regulations in the Group. Internal control is an essential part of business management and in ensuring that the set objectives are reached. Internal control is aimed to be organized efficiently, so that any deviations from targets can be detected as early as possible or that they can be prevented.

Harvia’s tools of internal control include internal policies, guidelines and instructions, together with manual controls as well as controls built into systems. In addition, internal control is implemented in the form of various monitoring reports and meetings.

The Board of Harvia is responsible for organizing the internal control and the Audit Committee oversees the efficiency of internal control. The Group Management Team and the CEO of each Group company are responsible that functioning control procedures are in use.

Harvia Group does not have its own internal audit function. The Board will annually assess the need for internal audit procedures and, if needed, may use internal company resources or external service providers for internal audit measures.