The company has not established a special function for internal audit. Instead, the Board undertakes the task.
The internal control includes control of the Paradox organization, procedures and activities. The aim is to ensure a reliable and accurate financial reporting, that the company and group’s financial statements are prepared in accordance with the law and applicable accounting standards, and that other requirements are followed.
The internal control system also aims to monitor the compliance with the company’s policies, principles and instructions. In addition, the protection of the company’s assets is monitored, and that the company’s resources are used in a cost efficient and timely manner.
Furthermore, internal control is conducted through evaluation of implemented information and business systems, and through risk analysis.