Internal Control
The Swedish Code of Corporate Governance, which came into effect during 2005, contains specific rules concerning internal control processes in companies. In 2005, Investor established a special Internal Control function to clarify Investor’s continuous work with internal control and to focus further on following up areas of importance to the company. The function reports to the Audit Committee and its purpose is to serve as an objective support function to the board for internal control processes.
The Internal Control function assesses important areas of risk and follows up specific control measures in selected areas. The Internal Control function plans its work in consultation with the Audit Committee, Investor’s management and Investor’s external auditors.
During 2005, the Internal Control function focused on systematically reviewing and documenting important areas to assess how control activities are designed and work, in order to detect and rectify weaknesses and deviations. Individual control measures were carried out to verify that control activities function as intended, which was described in the Board of Directors’ Report on Internal Control in 2005.
The work to document and verify significant control activities is continuing in 2006. In the first quarter, the Audit Committee approved the plan for the Internal Control function’s activities for the current year.
Information updated 2008-03-19 12:05:58