Internal audit

Konecranes' Internal Audit function is an independent, objective assurance and consulting unit, which assists the organization in achieving its objectives. The unit evaluates the efficiency of risk management, control, and governance processes and investigates all reports of suspected incidents. The latter can be made in person or through a new confidential e-mail reporting channel.

The Internal Audit unit operates according to an audit plan approved by the Board’s Audit Committee. The unit’s working methods are based on the professional standards laid down by the Institute of Internal Auditors (IIA). The approach of Internal Audit focuses on process-oriented engagement rather than solely entity-based auditing.

Administratively, Internal Audit reports to the group CFO; and Internal Audit activities are reported to the Board’s Audit Committee on a regular basis.