SSAB’s internal audit function reports directly to the Audit Committee and is functionally subordinate to the Chief Financial Officer.
The activities of internal audit are aimed at supporting value creation in the Group by identifying risk areas, carrying out internal controls, and thereafter recommending improvements within these areas。 The internal auditor participates at Audit Committee meetings。
The internal audit is organized at an overall Group level, with audit plans drawn up for each division. The head of internal audit plans the Group’s audit activities.
新疆11选5Most of the work is performed by means of audits in accordance with an audit plan decided upon by the Audit Committee. Other work largely consists of specific audits, as well as monitoring of self-assessments in the Group as regards internal control.
The internal audit function carries out and reports on audits in accordance with an audit plan adopted by the Audit Committee. These audits are performed in accordance with a submitted and adopted audit process, which is constantly developed in order to optimize the work method and delivery of reports which generate added value. These reports describe observations, recommendations and improvement areas, with the aim of strengthening and enhancing efficiency in risk management and internal control. In addition, the function also performs audits on instruction from management or as required for other reasons.
During the year, internal audit developed a manual to audit the risks of fraud and corruption, and performed a number of audits of subsidiaries according to this manual. Whilst the audits have shown no concrete irregularities, opportunities have been identified to reduce risks from this perspective. These improvement opportunities will be solved in accordance with action plans drawn up.
In order to further strengthen internal control and risk management, a whistleblower function is in place to enable the reporting of serious improprieties and violations of the Group’s Code of Business Ethics. This function is aimed, among other things, at guaranteeing safety in the workplace, upholding sound business ethics and curbing economic irregularities within SSAB to the benefit of employees, customers, suppliers and shareholders.