Nanoform complies with the Finnish Corporate Governance Code and is required to regularly control and monitor its activities to ensure the efficiency and results of its business operations. Nanoform’s Board of Directors is responsible for the company’s internal control and has defined the principles for Internal Control Operating Principles. Management practices and business steering are based on compliance with the law and the Articles of Association as well as with Nanoform’s values and ethical business practices. The Audit and Compensation Committee of the Board of Directors shall, among other things, see to that Nanoform has sufficient internal control and risk management and formalized routines to ensure that established principles for financial reporting and internal control are followed and that there are effective systems for monitoring and control of the company’s operations and the risks associated with the company and its operations.
The overall purpose of the Internal Control is to reasonably ensure that the company’s strategies and objectives are monitored and that the shareholders’ investment is protected. Internal Control shall further ensure that external financial reporting, with reasonable certainty, is reliable and prepared in accordance with generally accepted accounting principles, compliance with applicable laws and regulations, and compliance with listed companies.
Risk management is part of the Company’s monitoring system and it aims that the risks relating to the Company’s business environment are identified, evaluated and monitored in order to ensure the continuity of its business.