Annual Report 2022
Corporate Governance Statement
Reporting Period Jan. 1–Dec. 31, 2022
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Internal Control Framework of the Company

Bittium´s internal control framework consists of:

  • the internal control, risk management and corporate governance policies and principles set by the Company´s Board of Directors;

  • management overseeing the implementation and application of the policies and principles;

  • finance function and business controllers monitoring the efficiency and effectiveness of the operations and reliability of the financial and management reporting;

  • enterprise risk management process identifying, assessing, and mitigating risks threatening the realization of the Company´s objectives;

  • monitoring possible agreements and other legal acts between the Company and its related parties;

  • compliance procedures making sure that all applicable laws, regulations, internal policies and ethical values (including sustainability) are adhered to;

  • effective control environment at all organizational levels including control activities tailored for defined processes and creating group minimum requirements for product and service areas as well as for geographical areas;

  • shared ethical values and strong internal control culture among all employees; and

  • internal audit assignments reviewing the effectiveness of the internal controls as needed.