The Sarbanes-Oxley Act of 2002 was enacted by the US Congress and enforced by SEC to restore trust and confidence in corporate accounting and reporting practices, and further to strengthen investor protection and restore confidence in the US capital markets. The Sarbanes-Oxley Act introduced numerous corporate governance standards for all companies listed in the US. Certain provisions of the Act were effective immediately, while some have been implemented according to SEC’s specific implementation guidance.

Stora Enso has earlier conformed the byelaws of the Financial and Audit Committee to the requirements of Sarbanes-Oxley Act, revised its procedures governing its relationship to the Company’s independent auditors, established a Disclosure Committee, implemented procedures for handling complaints related to frauds and introduced a Code of Ethics.

Already in 2003, Stora Enso introduced procedures that require the respective management of the divisions and subsidiaries to certify the internal controls over financial reporting process, These procedures, and certifications provide a basis on which the Chief Executive Officer (CEO) and the Chief Financial Officer (CFO) of Stora Enso certify the consolidated financial statements to the SEC, as required by the Sarbanes-Oxley Act Section 302.