The main function of the statutory audit is to verify that the financial statements provide true, accurate and sufficient information on the Ahlstrom-Munksjö Group’s performance and financial position for the financial year. The Ahlstrom-Munksjö Group’s financial year is the calendar year.
The auditor’s responsibility is to audit the correctness of the group’s accounting in the respective financial year and to provide an auditor’s report to the General Meeting. In addition, Finnish law requires that the auditor also monitors the lawfulness of the company’s administration. The auditor reports to the Board of Directors at least once a year.
According to the Articles of Association, Ahlstrom-Munksjö shall have one auditor, which shall be an audit firm authorised by the Finnish Patent and Registration Office.
The Audit Committee prepares a proposal on the appointment of Ahlstrom-Munksjö’s auditors, which is then presented to the AGM for its decision. The compensation paid to the auditors is decided by the AGM and assessed annually by the Audit Committee.