Stora Enso sites uses cookies in order to provide you with the best user experience. You consent to the use of cookies by continuing the use of the site. You can change your browser settings at any time. For further information on cookies, please see our privacy and cookie policy.


Financial and Audit Committee

The Board has a Financial and Audit Committee to support the Board in maintaining the integrity of the Company’s financial reporting and the Board’s control functions. It regularly reviews the system of internal control, management and reporting of financial risks, the audit process and the annual corporate governance statement. It makes recommendations regarding the appointment of external auditor for the parent company and the main subsidiaries.

The Committee comprises three to five Board members, who are independent and not affiliated with the Company. At least one Committee member must be a financial expert who has significant knowledge and experience in accounting and accounting principles applicable to the Company, book-keeping or auditing. The Financial and Audit Committee meets regularly, at least four times a year. The Committee members meet the external and internal auditors regularly without the management being present. The Chairman of the Committee presents a report on each Financial and Audit Committee meeting to the Board. The tasks and responsibilities of the Financial and Audit Committee are defined in its charter, which is approved by the Board. Financial and Audit Committee members may receive remuneration solely based on their role as directors. The remuneration is decided upon by the shareholders at the AGM
Current members
Richard Nilsson (chairman), Jorma Eloranta, Antti Mäkinen and Christiane Kuehne were elected as members of the Financial and Audit Committee on 28 March 2018.
Remuneration: chairman EUR 20 600 per annum and member EUR 14 400 per annum as decided by the AGM 2018.
In 2017
The Committee prior to the AGM on 28 March 2018 comprised four members: Richard Nilsson (Chairman), Jorma Eloranta, Christiane Kuehne and Mikael Mäkinen. 

The main task of the Committee is to support the Board in maintaining the integrity of Stora Enso’s financial reporting and the Board’s control functions. To fulfil its task the Committee regularly reviews the Company’s system of internal control, management and reporting of financial and enterprise risks as well as the audit process. The Committee further reviews relevant compliance related cases that have been reported to Internal Audit and Ethics and Compliance during the year. In addition, the Committee has in 2017 conducted a statutory audit tender process resulting in a recommendation to the Board on the auditor candidate to be proposed to the AGM 2018.