Audit
The principal auditor is Mr Jouko Malinen, Authorized Public Accountant. The Audit Committee proposes the Annual General Meeting an Amer Sports auditor. The Annual General Meeting elects the auditor annually for a one year period.
The scope and content of the audit reflects the fact that Amer Sports does not have a separate internal audit organization. The auditors examine the efficiency of the company’s systems, internal control, reporting and accounting.
The Audit Committee and the Amer Sports Corporation’s financial management, together with the auditors, determine one or more audit themes over and above the statutory auditing requirements. The themes change each year, and separate reports on them are prepared for Amer Sports Corporation’s management. This insures that Amer Sports operations are efficient and profitable, that information is reliable, and that the relevant rules and operating principles are observed.
Amer Sports Corporation’s auditors, the Presidents of the business areas and the Finance Directors meet together at least once a year. The General manager and financial managers of each subsidiary meet with the local auditor at least twice a year.
The auditors of subsidiaries present their audit observations annually to the company in question, to the auditors of Amer Sports Corporation, and to the company’s financial management. In addition, they report in greater detail to the subsidiaries concerning observations made in the course of the audit.
The auditors submit a written report on their audit to the Board of Directors once a year. The principal auditor takes part in the Board of Directors meeting at which the financial statements for the fiscal year are discussed and presents a summary of the year’s audit.