Annual report 2013
The effectiveness of internal control concerning financial reporting is monitored by the Board of Directors, the Audit Committee, the CEO, the Group management, the internal audit department and the managers of the various units and departments. Internal control involves the monitoring of monthly financial and business reports, reviewing of prognoses and plans, reports prepared by internal auditing, and quarterly interim reports by the external auditors.
The most significant changes in risks across the business environment and business operations are evaluated regularly in the quarterly interim reporting.
Internal auditing submits a summary report to the Audit Committee every six months concerning the inspections conducted, principal observations and actions agreed upon.