Internal control, risk management and
internal audit

The Board of Directors is responsible for the appropriate management and organization of operations. In practice, it is the responsibility of the CEO , together with management, to put in place and administer accounting and control mechanisms and other similar mechanisms.

The Group's financial performance is reviewed monthly through a reporting system that covers all units and operations. Business areas are run by and through their own management teams. With the support of the Corporation, business areas are responsible for the day-to-day risk management associated with business operations.

Risk Management is responsible for identifying, evaluating, and managing risks that may threaten the achievement of Fiskars' business goals. The targets and principles used in risk management, together with the major risks and uncertainties facing Fiskars, are presented in the annual report.

Internal Audit is responsible for auditing and reviewing how well internal control systems function, the appropriateness and efficacy of functions, and how well guidelines are observed. Internal Audit also strives to promote the development of risk management practices in the Group's business units. The Parent Company has an internal auditor manager, who is administratively subordinate to the President & CEO , but reports to the Audit Committee.