Annual Report 2014 | Suomeksi |

Risk assessment

Risks related to financial reporting are identified and analysed annually as part of the risk management process. Risks are reported regularly in connection with the planning process and the follow-up of actions and improvements is integrated in operational management. The control risk assessment has been the basis for creating the process-level internal control framework and the same applies to the control points to prevent errors in the financial reporting process. Cross-divisional teams by process area update the controls when needed. 

After the organisational change, a review was conducted to ensure a clear scope and roles and responsibilities in controls. This assessment included risks related to potential fraud and other irregularities, as well as risks of loss or misappropriation of assets.

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