Related party transactions

The company evaluates and monitors transactions to be concluded between the company and its related parties to ensure that any conflicts of interest are duly taken into account in the company's decision-making. 

The company has identified its related parties and it is regularly engaged in transactions with some of these parties. These transactions relate to the company’s normal business operations and they are in line with the purpose of the company and executed on market or market equivalent terms and practices generally observed and accepted within the industry in question (for example so called Mankala companies in energy industry). Decisions on these transactions are taken in compliance with the company’s Acceptance Policy and established decision-making limits and procedures.

The company’s Finance and Control Function monitors and controls related party transactions as a part of the company’s normal reporting and control procedures. Information on the company’s related party transactions is available on page 128 of the Annual Report 2015 in the notes to the company’s consolidated financial statements.