The board of directors’ and the CEO’s responsibilities for internal control is governed by the Swedish Companies Act and the Code. According to the Swedish Companies Act, the board of directors of a company is responsible for the company’s organization and management of the company’s affairs and shall ensure that the company’s organization is structured in such a way that accounting, asset management and the company’s financial conditions are controlled in a satisfactory manner.
The CEO of a company shall, according to the Swedish Companies Act, manage the day-to-day business according to the instructions and guidelines issued by the board of directors. Furthermore, the CEO shall take necessary measures to ensure that the company’s bookkeeping is kept in accordance with applicable laws and regulations, and that the asset management is handled in a satisfactory manner.
The board of directors of Hacksaw ensures there are effective systems for follow-up and control of the company’s operations and have established an annual process for evaluation and follow-up of the effectiveness of internal control. This process consists of risk assessment, control activities, information and communication, and monitoring and follow-up. As part of this process, the audit committee monitors the company’s financial reporting and the effectiveness in Hacksaw’s risk management and internal
controls related to financial reporting.
Consequently, Hacksaw has an established internal control framework with the purpose of ensuring compliance with applicable laws and regulations, and that the company’s operations are conducted correctly and efficiently. Hacksaw’s internal control over financial reporting is intended to provide reasonable assurances regarding the reliability of the external financial reporting in the form of quarterly and annual reports and financial statements, as well as that the external financial reporting is prepared in accordance with applicable legislation and accounting standards and other requirements for listed companies.