Internal control and risk management
Assemblin strives for efficient corporate governance that utilises future opportunities with controlled risks.
Assemblin’s Board of Directors has overall responsibility for the company’s organisation and management as well as governance, monitoring and control. The Board’s activities are regulated in the Rules of Procedure, which are adopted annually. This also includes the activities of the Board’s committees, the allocation of responsibilities between the CEO and the Board, and financial reporting requirements.
To ensure effective corporate governance, the Board of Directors has also adopted a number of Group-wide policies and created an organisational structure with clear roles and responsibilities. Within the Group, there is a delegation policy with levels of decision-making and authorisation that follow the organisational structure.
A structured risk management and internal control procedure
The Board of Directors and management of the Group are ultimately responsible for Assemblin’s risk management, which is governed via a Group-wide risk management policy and risk management procedure. For the purpose of limiting the company’s risks and ensuring correct and reliable financial reporting, various control activities linked to the Group’s key procedures are regularly conducted.
The Audit Committee routinely follows up on the internal controls for the purpose of ensuring the quality of the procedures. The Board of Directors routinely assesses the need for a specific internal audit function, but until further notice has deemed that the procedures that have been set up are sufficient based on Assemblin’s position and needs.
Operational governance in a decentralised environment
With the insight that most installation assignments are local, and in order to ensure market-leading know-how, Assemblin has a firmly decentralised and technology-oriented organisation. To leverage economies of scale, minimise risks and ensure efficiency and a sound culture, however, there is a clearly defined Group-wide platform based on a framework of shared values, policies and guiding principles. The Group-wide policies that Assemblin’s Board of Directors and Group Management adopt annually are an important part of this framework.