Internal controls and risk management
The company has adequate procedures for internal controls. The Board of Management and Executive Committee have established several Risk, Control and Compliance Committees, which are explained in Integrity and compliance management. In 2021, we invested in enhancing our Internal Control Framework and process, alongside the continued work on system embedded controls, standard role design and segregation of duty monitoring. An integrated Risk and Internal Control department supports all businesses and functions in their work.
Our risk management system is explained in more detail in the next chapter. Reference is made to the Statement of the Board of Management relating to internal risk management and control systems.