Committees

Audit committee

Neo Industrial's current Audit Committee consists of Raimo Valo (Chairman) and Marjo Matikainen-Kallström. The Board annually appoints the chairman and members of the Audit Committee. The Audit Committee reports to the Board.

The duties of the Audit Committees are supervising the financial reporting process, monitoring the efficiency of the company’s internal control, internal audit, if applicable, and risk management systems, reviewing the description of the main features of the internal control and risk management systems pertaining to the financial reporting process, monitoring the statutory audit of the financial statements and consolidated financial statements, evaluating the independence of the statutory auditor or audit firm, preparing the proposal for resolution on the election of the auditor, evaluating compliance with laws and regulations and keeping in contact with the auditor.

During 2014, the Audit Committee convened two times. The participation activity of the members was 100%.