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Committees

Audit Committee

The Board of Directors of Basware Corporation has appointed the Audit Committee to assist the Board in discharging its oversight responsibilities. The committee will oversee the financial reporting process to ensure the balance, transparency and integrity of published financial information. The committee will also review the effectiveness of the company’s internal financial control and risk management systems, the company's audit functions and the company’s process for monitoring compliance with laws and regulations affecting financial reporting and, if applicable, its code of business conduct.

The committee will comprise at least two (2) members. The Board shall appoint the committee members and the chairman of the committee for a term of one (1) year. The majority of members shall be independent of the company and at least one (1) member shall be independent of significant shareholder. Each member shall have the qualifications necessary to perform the responsibilities of the committee and at least one (1) member must have accounting, book-keeping or auditing or related financial expertise.

Audit Committee as of March 15, 2016:
Chairman: Tuija Soanjärvi
Members: Michael Ingelög, Ilkka Sihvo

The Board has created and confirmed a charter which includes instructions and working procedures regarding the duties and responsibilities of the committee. To fulfil its duties and responsibilities, the committee shall perform activities within the scope of this charter. For the said purpose, the committee may engage independent counsels and other advisers as it deems necessary. The committee shall have unrestricted access to members of management, employees and the external auditors of the company and to any relevant information. The committee has no autonomous decision-making power but it may prepare proposals for the Board in matters within the scope of its duties.