Internal audit

The internal audit carries out independently and objectively review, assurance and consulting activities aiming to create added value to the company and develop its operations further.

The internal audit reviews the appropriateness and success of the group’s and its subsidiaries’ monitoring, management, administration and risk management processes and, and as such, seeks to promote reaching targets of the Musti and implementation of corporate governance in its all business operations.

The Internal Audit’s duty is to review the appropriateness and adequacy of Musti’s internal control and risk management by carrying out audits in the Group and its business operations and processes. The internal audit coordinates its activities with the external audit and the internal and external providers of review, assurance and consulting services to ensure adequate coverage of the audit activities in the Group and to minimise overlapping work in various functions.

The internal audit operates under the Company’s CEO and reports to the Audit Committee of the Board of Directors. The internal audit may address all businesses, country operations and franchising activities of Musti. The internal audit is implemented in the company as a service provided by an external service provider selected by a decision of the Group’s top management. The external service provider is responsible for preparing an annual plan for the internal audit.

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