Investors

Risk management

Revenio's risk management aims to prepare for identifiable risks in advance and to ensure the continuity and operational capacity of the business in all situations. The company complies with the Finnish Corporate Governance Code, which governs the organization of risk management and internal control.

The tasks of Revenio’s Board of Directors include confirming the principles and priorities of risk management at the strategic level. The Board of Directors is responsible for organizing risk management and internal control as well as monitoring its effectiveness. The Audit Committee supports the Board of Directors by monitoring the effectiveness of the risk management systems and assessing the Group’s risks as well as the quality and adequacy of risk management. Internal control supports risk management by ensuring that the company’s operations are efficient and legal, including the reliability of financial reporting and the appropriateness of operational processes. Revenio regularly identifies and assesses changes in the business environment and associated risks. The company continuously takes the necessary measures to manage risks and monitors their effects.

The implementation of risk management is the responsibility of the Group’s Leadership Team. The Leadership Team is liable for ensuring that sufficient risk identification, assessment, management, and reporting procedures are included in the key business processes.

The Group's subsidiaries locally organize risk management implementation methods that take the subsidiary's size into account. Certain areas of risk management where centralization is appropriate, such as insurance and financial risk management, are dealt with by the Group Leadership Team. Risks and any changes in them are reported to the Board of Directors, which discusses the most significant risks, their management and assesses the effectiveness of risk management, if necessary. The Audit Committee assesses risk management in conjunction with internal audit procedures.

Internal audit

The Audit Committee supervises internal auditing in the Company. The Board of Directors is responsible for internal auditing, which is carried out by an external public accountancy firm, authorized by the Central Chamber of Commerce and selected by the Board. The authorized public accountancy firm that performs an internal audit cannot be the same firm that acts as the Company’s auditor.

The objective of internal auditing is to assess and verify the efficiency of risk management, internal control, and management and administration. Internal auditing has been carried out on a case-by-case basis at the discretion of the Board.