Audit Committee

Vaisala Board established an audit committee on February 8, 2012. The committee consists of a chair person and two members. The audit committee is responsible for:

• monitoring the financial statement reporting process;
• supervising the financial reporting process;
• monitoring the effectiveness of the company's internal control, any internal auditing and the risk management system;
• reviewing the description of the main aspects of the internal control and risk management systems pertaining to the financial reporting process outlined in the Corporate Governance Statement;
• monitoring the statutory audit of the financial statements and the consolidated financial statements;
• evaluating the independence of the statutory auditor or auditing firm and, in particular, the provision of additional services to the audited company;
• preparing the draft resolution on the selection of an auditor.

The members of Vaisala's audit committee are: Maija Torkko (chair), Mikko Niinivaara and Timo Lappalainen.

Remuneration Committee

The remuneration committee was established by the Board of Directors on March 28, 2012. The committee consists of a chair person and two members. The remuneration committee is responsible for:

• preparation of matters pertaining to the appointment of the
  managing director and the other executives as well as the
  identification of their possible successors
• preparation of matters pertaining to the remuneration and
  other financial benefits of the managing director and other
  executives
• preparation of matters pertaining to the remuneration
  schemes of the company
• evaluation of the remuneration of the managing director and
  the other executives as well as seeing to it that the remuneration
  schemes are appropriate
• answering questions related to the remuneration statement
  at the general meeting.

The members of Vaisala's remuneration committee are: Raimo Voipio (chair), Maija Torkko and Yrjö Neuvo.