Internal Control, Risk Management and Internal Audit

The Board of Directors has approved the Internal Control Policy and the Risk Management Policy.

The purpose of Ramirent’s risk management is to provide the Board and management with a reasonable assurance of the achievement of the Company’s objectives related to strategy and operations, the reliability and correctness of financial reporting and compliance with the relevant regulations and internal policies.

The overall system of internal control and risk management in Ramirent is based on the commonly accepted framework by the Committee of Sponsoring Organizations of the Treadway Commission (COSO 2013) and ISO 31000:2009 standard for risk management. Ramirent internal control comprises of five principal components: the control environment, risk assessment, control activities, information and communication, and monitoring. Ramirent risk management is continuous, embedded in the business and internal control is an integrated part of risk management.

The objectives of the internal control and risk management systems for financial reporting are to ensure that the financial reports disclosed by Ramirent give essentially correct information about the company finances, are reliable and that Ramirent complies with the applicable laws, regulations, International Financial Reporting Standards (IFRS) as adopted by EU and other requirements for listed companies.

Read more in Ramirent’s Corporate Governance Statement

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