Sampo's Internal Audit is a function independent of business operations which evaluates the sufficiency and effectiveness of the internal control system and the quality with which tasks are performed in Sampo Group. Sampo's Internal Audit has been organised to correspond with the business organisation.
The Audit Committee of Sampo plc's Board of Directors annually approves Internal Audit's activity plan. Internal Audit reports on the audits performed to the CEO and the Board of Directors of the legal entities and the Audit Committee. Company-specific audit observations are reported to the respective companies' management.
In its auditing work, the Internal Audit complies with, in addition to the Internal Audit Policy approved by Sampo's Board of Directors. According to the policy, the Internal audit is obliged to comply with the guidelines set out in the International Professional Practices Framework of the Institute of Internal Auditors.