The Arcada University of Applied Sciences is maintained by Arcada University of Applied Sciences Ltd. on the basis of a licence granted by the government in plenary session. Arcada University of Applied Sciences Ltd. is wholly owned by the Arcada Foundation.
The general framework for Arcada’s activities is defined in Arcada’s instructions. Arcada’s activities are also regulated by:
- current legislation relating to universities of applied science and limited liability companies
- Arcada’s operating licence (granted by the government in plenary session)
- instructions from the Ministry of Education and Culture
- The articles of association of the Arcada University of Applied Sciences Ltd. and Arcada’s internal policy documents
- Arcada’s strategy, operational plan and
- the Finnish Corporate Governance Code
Arcada’s senior administration consists of the Board and rector of Arcada University of Applied Sciences Ltd.
Articles of association
Arcada University of Applied Sciences' articles of association establish, among other things, the corporate's company name and operations.
The purpose of internal control is to ensure that operations are effective and efficient in order to achieve the goals, that Arcada follows the laws, regulations and internal regulations and that the information Arcada publishes is reliable and accurate. Internal control also includes risk assessment and management.
The board of Arcada University of Applied Sciences Ltd. Ltd is responsible for internal control.
The Annual General Meeting of Arcada University of Applied Sciences annually elects one auditor and one deputy auditor to review the accounting, financial statements and administration. The auditors must be auditors approved by the Finland Chamber of Commerce (CGR, GRM) or audit associations (CGR or GRM association).
Auditing Society EY