The overall objective of the internal control is to ensure, to a reasonable degree, that the Company’s operational strategies and targets are followed up and that the owners’ investments are protected. In addition, the internal control shall ensure that the external financial reporting is, with reasonable certainty, reliable and prepared in accordance with generally accepted accounting principles, that applicable laws and regulations are complied with, and that the requirements imposed on listed companies are complied with.

In 2007, SSAB decided to establish a Risk Committee with the task of developing and implementing a uniform risk management model for the Group. The Risk Committee will function as a preparatory body for the Group Executive Committee with the primary tasks of identifying and evaluating the Group’s risks and compiling and updating SSAB's risk structure and risk model. The work also includes assessing the preventative measures to be taken in the internal control in order to reduce and prevent the Group’s risks. The committee also has the task of ensuring that the Group holds appropriate insurance cover and preparing documentation as a basis for decisions to be taken by the Group Executive Committee concerning changes in, among other things, policy, guidelines, and insurance cover. In order to cover SSAB’s risks as fully as possible, the committee consists of heads of the divisions, Group personnel and the head of the internal audit. The committee meets at least four times per year.

For a description of the organization of the internal control with respect to financial reporting, see the Corporate Governance Report for 2007, section "Description of the organization of the internal control with respect to financial reporting – the Board’s report for the 2007 financial year".