Internal control environment
In connection with its financial reporting process, Hartmann has set up a number of internal controls to ensure that the financial reporting gives a true and fair view free from material misstatement. The internal control and risk management systems also ensure that the financial reporting is in compliance with applicable laws and standards.
The Board of Directors regularly considers whether there is a need to establish an internal audit function. Due to Hartmann’s limited size and the complexity of its accounting and auditing, these tasks are undertaken by the central finance function and the individual subsidiaries.
Hartmann continually enhances its control and risk management systems, which serve to reduce the risk of errors or irregularities not being detected and corrected in due time. These systems may be divided into:
Management structure and allocation of responsibilities
The Board of Directors has a number of control duties with respect to ensuring an adequate quality of financial reporting, including the Company’s financial risk exposure. The Board of Directors has established an audit committee, which undertakes the duties described in the charter of the audit committee.
The responsibilities of the Executive Board in relation to financial reporting are set out in the rules of procedure for the Board of Directors and applicable company law.
Charter of the audit committee (English)
Charter of the audit committee (Danish)