Annual Report 2010 - Outokumpu

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Controller meetings were organised on a monthly basis to share information and to discuss the topical issues in the
Group. Outokumpu has established different networks and communities in which financial reporting and internal control
issues and related instructions are discussed and reviewed. These networks usually consist of personnel from business
units and Group functions. The aim of these networks, communities and common instructions is to ensure that unified
financial processes and reporting practices are used throughout the Group. The networks and communities play an
important role in establishing the effectiveness of internal controls relating to financial reporting and in developing
Outokumpu policies, instructions and processes.
Follow-up
Both management in Outokumpu companies and personnel in accounting and controlling functions are responsible for
the follow-up and monitoring of internal controls connected with financial reporting. The Internal Audit and Risk
Management functions also engage in follow-up and control activities. The findings of the follow-up procedures are
reported to the Audit Committee and the Group Executive Committee on a regular basis.
Outokumpu Annual Report 2010 – Corporate Governance – Financial Reporting