The effectiveness of Lenzing’s risk management system in the reporting year was evaluated by the auditor, KPMG Austria GmbH, in accordance with C-Rule 83 of the ACCG and resulted in an unqualified opinion. The Managing Board was informed of the audit results. In addition, the Head of Risk Management reports regularly on current risks at the Audit Committee meetings.
The Corporate Audit Department reports directly to the Managing Board. The annual audit schedule is finalized in close cooperation with the Managing Board and the Audit Committee. The Head of Corporate Audit also makes regular reports to the Audit Committee on key audit findings.