Delete’s internal control framework contains all relevant financial and operational functions with emphasis on business risk approach based on Delete’s risk management process and defined areas, such as project controls, revenue recognition, asset management and treasury controls.
The principles of internal control define the general framework for the implementation of statutory and regulatory obligations concerning Delete and how the laws / principles governing the sector in terms of supervision are generally applied to the company’s activities.
Delete’s Board of Directors approves the company’s internal control and auditing principles. In accordance with the principles established by the Board of Directors, internal control is part of Delete’s operational management. All of the company’s functions operate in accordance with these principles and the company’s instructions, and comply with the regulations and instructions issued by the authorities.
The internal audit function is responsible for independent evaluation and assurance with the main purpose to support the CEO and the Audit Committee in fulfilling the internal control duties. The main purpose of internal audit is to provide objective and independent information, give improvement and development recommendations based on findings, and educate and train the management and employees on the control process and its enforcement. The principles of internal auditing are approved by the Board of Directors.
The purpose of the internal audit is to check, confirm and assure the CEO, the Board and the management that the controls, risk management and governance are efficient and functional in the organisation. In addition, the internal audit function supports the management and organisation in the development of the internal controls environment and ensures the achievement of set targets. The audit methodology is based on risk assessment.
Delete Group’s internal audit is organised and resourced internally. The internal audit function answers to the Audit Committee and acts under the CEO’s supervision. The internal audit function reports its findings and development suggestions to the CEO, the Audit Committee and the management of the applicable business area.