NetEnt’s control system has been devised to ensure accurate, reliable financial reporting and accounting in accordance with applicable laws and ordinances, accounting standards and other requirements for listed companies. Internal control refers to the process that is influenced by the Board of Directors, Company management and other staff, and is designed to provide reasonable assurance that the goals of the Company are achieved in terms of:
- appropriate and efficient operations
- reliable financial reporting
- compliance with applicable laws and regulations
NetEnt applies the established framework for internal control issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This framework encompasses five principal areas: control environment, risk assessment, control activities, monitoring/improvement and communication.
The Board of Directors has defined guidelines for the above work which include roles, responsibilities and processes that are vital in maintaining good internal control. Internal control over financial reporting is thus a process that involves the Board of Directors, the executive management and the employees, and that is designed to provide reasonable assurance of the reliability of the external reporting.
In the document below there is a description of how internal control over financial reporting is currently organised at NetEnt. Internal control is organised in accordance with the guidelines for internal control adopted by the Board of Directors.