SSAB complies with the internationally established framework, Internal Control - Integrated Framework, which is issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”). In accordance with COSO, SSAB’s internal control process is based on five components: control environment, risk assessment, control activities, information and communication, and monitoring. SSAB’s internal control process is structured in order to ensure, to a reasonable degree, the quality and accuracy of the financial reporting. The process shall ensure that the reporting is prepared in accordance with applicable laws and regulations, reporting standards, as well as requirements imposed on listed companies in Sweden. Prerequisites for this being achieved are that a sound control environment is in place, that reliable risk assessments are carried out, that established control activities are in place and that information and communication as well as monitoring function satisfactorily.
Annual Report 2010
Corporate governance
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