Fazer Internal Audit role is to enhance and protect organisational value by providing independent, objective assurance and to contribute to the continuous improvement of risk management and internal controls. Internal Audit reports to the Audit Committee. Internal Audit conducts audit assignments according to the annual audit plan that is approved by the Audit Committee. The results of these assignments are regularly reported to Group Management, auditors and the Audit Committee.
The Group’s auditors are appointed by the Annual General Meeting for a term of one year. The auditors are responsible for auditing the Group’s accounts, financial statements and administration. The details of these duties are contained in the relevant legislation and regulations covering good auditing practices. The auditors participate in the Annual Meeting of the Board of Directors devoted to consideration of the Group’s Financial Statements and to meetings of the Audit Committee.