Control systems 

KONE Corporation’s Board of Directors has ratified the principles of internal control,
risk management and internal auditing to be followed within the Group.

Internal control
The goal of KONE’s internal control system is to ensure that the Group’s operations are efficient and profitable, that its business risk management is adequate and appropriate, and that the information created is reliable. The control system also makes it possible to oversee that the operating principles determined and instructions given are followed.

The Board’s Audit Committee monitors the functioning of the internal control process. The Corporation has an Internal Auditing Department, which is separated from the operational management and which head reports to the Chairman of the Board. The Internal Audit Department is responsible for auditing internal control and the management of business risks. It reports its findings to the Audit Committee.

Read more on KONE's Corporate Governance Statement 2011.