The Board of Directors is responsible for ensuring that the company’s organisation is structured in such a way that the company’s financial circumstances can be controlled satisfactorily and that external reports such as interim reports and the annual report are prepared in accordance with the legal requirements, relevant accounting standards and other rules and directives applicable to listed companies. The interim reports are put before the Board for approval and issued by the CEO on behalf of the Board. The CEO ensures that financial accounting in the group companies is carried out in compliance with legal requirements and that financial management is conducted in a satisfactory manner. Cloetta Fazer AB’s Managing Director or Deputy Managing Director are members of the boards of all operating subsidiaries. Every month, the Group prepares a closing of the books that is submitted to the Board and the Group Management.
The Board ensures the quality of the Group’s financial reporting through the audit committee. The audit committee deals not only with the company’s financial reports and significant accounting matters, but also matters related to internal control, compliance with rules, reliability of reported values, events after the balance sheet date, changes in estimates and judgements and other conditions affecting the quality of the financial statements.