Internal auditing

At Revenio Group Corporation, internal auditing is conducted by Ernst & Young Oy.

Internal control

At Revenio Group Corporation, the internal control function is responsible for supporting and ensuring
•    the reaching of set targets
•    the economical and efficient use of resources
•    the management of risks related to the operations
•    the reliability and accuracy of financial and other managerial information
•    compliance with laws and regulations as well as with strategies, plans, internal rules, and set procedures

Internal control comprises all financial and other supervision and control carried out by the Board of Directors, the CEO, and other personnel. At Group level, internal control is based on monthly result reports, analyses, and forecasts prepared by the subsidiaries, all of which the parent company’s Board of Directors discusses monthly at its meetings. The internal control practices applied by the subsidiaries – for example, with respect to key financial processes – are defined in guidelines prepared for each company.

Risk management

The Group’s risks are divided into strategic, operational, trade cycle, hazard, and financial risks. The principles and implementation of risk management for each risk category are determined by the Board of Directors. More detailed information on the company’s risks can be found in the 2010 Annual Report.