Under its Articles of Association, HKFoods shall have at least one and a maximum of two auditors who must be auditors accepted by the Central Chamber of Commerce (CPA) or auditing firms. If only one auditor is appointed for the Company, and it is not an auditing firm approved by the Central Chamber of Commerce, one deputy auditor must be appointed.
The task of statutory auditing is to verify that the financial statements give a true and fair view of the result and financial position of the HKFoods Group in the financial period audited. The auditor submits to the shareholders an auditor’s report as a part of the annual financial statements and provides the Audit Committee with regular reports on his/her observations.
Auditors are elected annually in the Annual General Meeting. Authorised Public Accountant Firm Ernst & Young Oy was elected as the auditor, with APA Maria Onniselkä as the main auditor, until the end of the next Annual General Meeting.
Audit fees paid by the Group to the auditors are published in the Corporate Governance Statement.
Internal control
The Company’s internal control framework is within the remit of Board of Directors. HKFoods Group’s management is responsible for maintaining and further developing effective internal control. Internal control aims to ensure compliance with laws and regulations as well as HKFoods’ values and internal policies and guidelines. The internal control system has the further objective of supporting activities in line with HKFoods’ strategy. The reliability of financial reporting and measures in the service of this goal are an integral component in the Company’s internal control framework.
A more detailed account of internal control is presented in HKFoods’ Corporate Governance Statement.