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Internal control and risk management

In Cargotec, the key task of internal control – the framework for risk management – is to ensure that management decisions are implemented across the organisation, that operations run efficiently and that business-related decision making is sound and appropriate. Internal control is also responsible for ensuring that risk management efforts are adequate and that personnel comply with company policies as well as non-company regulations and laws.

Cargotec’s internal control is based on its values and the Code of Conduct. With respect to the financial reporting process, these are supported by Cargotec’s policies and guidelines as well as its clearly defined internal financial reporting and communications.

Cargotec’s Internal Control Policy defines the control principles and procedures applied. Similarly to other Cargotec operations, responsibility for the internal control of financial reporting is divided into three tiers. Line management is primarily responsible for internal control. It is aided by corporate support functions, which define policies and instruct on and supervise risk management. Internal and external audits form the third tier, their task being to ensure that the first two tiers are functioning effectively.