Internal control

Internal control seeks to ensure that VVO Group’s operations comply with current legislation and regulations and the company’s operating principles, and that the company’s financial and business reporting is reliable. Internal control also seeks to safeguard VVO Group’s assets and ensure that its operations are efficient and reliable, thereby enabling its strategic goals to be achieved.

The internal control and risk management operating model for financial reporting is designed so as to gain sufficiently dependable information on the reliability of financial reporting and to ensure that the financial statements are drawn up according to current legislation and regulations.

VVO Group’s internal control system is based on the framework published by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

Organisation of internal control is the responsibility of the Board of Directors and the CEO. However, responsibility for carrying out internal control is shared by the entire organisation: each individual Group employee is responsible to his/her supervisor for internal control in his/her area of responsibility.

 

 

© VVO Group plc 2015