The Annual General Meeting elects the auditor of Ahlstrom. The auditor shall be an authorized public accounting firm which then appoints a responsible auditor. The Audit Committee prepares the proposal on the appointment of the company’s auditors, which is then presented by the Board to the Annual General Meeting for decision. The compensation paid to the auditor is decided by the Annual General Meeting and is assessed annually by the Audit Committee.
The auditor’s responsibility is to audit the correctness of the Group’s accounting in the and to provide an auditor’s report to the General Meeting. In addition, the auditor also monitors the lawfulness of the company’s administration. The auditor reports to the Board of Directors at least once a year. The Company’s subsidiaries are subject to auditing under local regulations. The Subsidiary audits are conducted by the representatives of the auditing firm network or other high standard audit companies in each country.