Internal control over financial reporting

Internal control over financial reporting aims to provide reasonable assurance of the reliability of the company’s external financial reporting. The external financial reporting is to be prepared in conformity with laws, applicable accounting standards and other requirements for companies listed on Nasdaq Stockholm.

Eniro has implemented a modified COSO framework for internal control over financial reporting, broken down into five components: control environment, risk assessment, processes and control activities, information and communication, and monitoring.

The Board’s responsibility

The Board is responsible for ensuring that the company has satisfactory internal control and formalized routines to ensure compliance with the set principles for financial reporting and internal control. The Board is also responsible for ensuring that the company’s financial reporting is prepared in conformity with laws, applicable accounting standards and other requirements for listed companies.

The Board has established an audit committee which – among other duties – monitors the company’s financial reporting, and with respect to the financial reporting monitors the effectiveness of the company’s internal control and risk management. The Board has decided to not establish a special internal audit function. This determination is based on the Group’s size and operations, and on existing internal control processes. When needed, external advisors are used for projects pertaining to internal controls performed under assignment from the Audit Committee.