The Board of Directors’ and CEO’s responsibility for internal management and control is regulated in the Swedish Companies Act and the Swedish Code of Corporate Governance (the
Code).
Internal control in Gunnebo works with both preventive and auditing activities with the aim of developing internal control in the Group and monitoring how the internal control works.
Internal control acts on behalf of the Group Executive Team. During 2009 its main focus has been an Internal Control Remediation (ICR) project with the aim of improving the internal control structure by creating minimum requirements for an efficient internal control. There has also been a continued focus on developing new policies and updating existing governing documents.
An integrated process
Control is not an isolated occurrence, but an ongoing process which requires continuous updating, support and evaluation to ensure it is up to date at all times.