Technopolis’ values, operating principles, strategy, and objectives lay the foundation for all internal control. Technopolis upholds a corporate culture that approves internal control as a normal and necessary part of day-to-day business. As a result, internal control is also implemented by the company management and personnel, each within their respective areas of responsibility. The management of each Group unit or company is responsible for the implementation of functional and effective control.
The task of Technopolis Group’s internal control is to ensure:
- continuity of operations
- performance and efficiency of operations;
- reliability of financial and operational reporting;
- compliance with laws, regulations and agreements, Technopolis’ values and internal guidelines as well as the Code of Conduct;
- security of assets and information.
Internal control is part of the Group’s continuous management and governance. The Board of Directors and the CEO are responsible for arranging internal control. Members of the Group Management Team and persons responsible for the company’s central operations or processes from the various business areas and different geographical units and Group support functions particularly take part in implementing internal control, under the guidance of the Board of Directors and the CEO. Internal control covers all of the Group’s companies and functions; internal control is implemented by way of risk analyses, risk management and supervision discussions with Group and business unit management, and, above all, through standardized processes.
The Group has established an internal Compliance function responsible for supervising the compliance of the company’s operations with obligating external regulations, and internal policies and guidelines. The Compliance function supports the company’s internal control by identifying the focus areas of internal control in cooperation with the Group’s risk management function, ensuring that the necessary internal guidelines are up to date and, with regard to external regulations and internal policies, communication and training. In addition, the Compliance function coordinates the internal audit carried out by an external service provider in accordance with the annually agreed audit plan and supervises the implementation of the follow-up measures agreed. The statutory audit carried out by the external auditor also includes assessing the measures of internal control.
Last updated 2.7.2018