The Board of Directors of Etteplan Oyj has appointed an Audit Committee among the Directors. The Board has confirmed the central duties and operating principles of the committee in a written charter. The Chairman of the Audit Committee reports on each Committee meeting to the Board of Directors.
Charter of the Audit Committee (pdf)
The task of the Audit Committee is to assist the Board of Directors in ensuring that the Company’s financial reporting and accounting principles as well as the financial statements and other financial information given by the Company comply with laws and regulations and are transparent, explicit and clear. The duties of the Audit Committee are, inter alia, monitoring the Group’s financial and financing situation, the Group companies’ financial statements and consolidated financial statements reporting process, the efficiency of the Company’s internal control, internal audit and risk management systems as well as the statutory audit of the Company’s financial statements and consolidated financial statements. The Committee further supervises the Company’s financial reporting process and assesses the independence of the auditor and the non-audit services provided by the auditor and that the Company complies with laws and regulations. The Audit Committee reviews the description of the main features of the internal control and risk management systems pertaining to the financial reporting process included in the Corporate Governance Statement of the Company and prepares the resolution proposal relating to the election of the auditor. In addition, the Audit Committee monitors the non-financial/CSRD reporting process and reviews the statement of non-financial information annually. The Board of Directors may also allocate other duties to the Committee.
The committee consists of three to four members of the Board of Directors. It convenes at regular intervals, at least four times a year before the Company’s interim or half year financial reports and financial statements are published. The Committee Chairman provides the Board with the proposals made by the Committee. The Company auditor attends the Audit Committee meetings and the Company CFO acts as the secretary to the Committee. In addition, the Company CEO attends the Committee meetings.
Since the Annual General Meeting of 2023, Päivi Lindqvist has acted as the Chairman of the Audit Committee and Tomi Ristimäki, Leena Saarinen and Sonja Sarasvuo as members of the Committee. All members of the Committee are independent of the Company. Mikko Tepponen acted as a member of the Audit Committee until the Annual General Meeting of 2023.
In the financial period 2023, the Audit Committee held o total of five meetings, all meetings were Teams meetings. The average attendance rate of Committee members was 100 percent.