Risk management complying with the Risk Management Policy confirmed by the Board of Directors forms part of Silmäasema Group's control system. Risk management is a systematic way to protect the assets and income required for the Company’s business to enable to Company to achieve its set targets. Risk management also includes conscious risk taking which means the utilization of different opportunities based on risk-profit assessments.
The purpose of risk management is to ensure that the risks related to the Company's business operations are identified, evaluated and monitored.
The purpose of risk management is to ensure that the risks related to the Company's business operations are identified, evaluated and monitored. The goals of risk management include for instance ensuring the risks which may impact the realization of the strategy are identified, evaluated and analyzed, as well as ensure for its part the quality, safety and continuity of business.
Silmäasema Group’s risk management is part of the Group’s business operations management. The Group’s Executive Committee evaluates risks at least annually, focuses risk reporting when necessary and report on key risks to the audit committee of the Company’s Board. The audit committee of the Board reviews the topicality of risk management annually.
Silmäasema describes business-related significant short-term risks and uncertainty factors in its interim reports and its Management Report. Information on financial risk management is in the attachments of the Group’s financial statements. A statement on financing risks and financing risk management has been issued in the financial statements.
The Board’s audit committee monitors risk management for instance in connection with financing, tax and IT security risks.