Volvo 2007 Annual Report Download - page 81
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number of committees and networks within
Volvo that serve as forums for information and
discussions regarding issues relating to the
fi nancial reporting and application of internal
rules. Included in these committees and net-
works are representatives from the business
areas and the Group’s staff functions, who are
responsible for fi nancial reporting. Work in
these committees and networks is aimed,
among other things, at ensuring a uniform
application of the Group’s policies, principles
and instructions for the fi nancial reporting
and to identify and communicate shortcom-
ings and areas of improvement in the processes
for fi nancial reporting.
Follow-up/Supervision
Ongoing responsibility for follow-up rests with
the business area’s management groups and
accounting and controller functions. In
addition, the Internal Audit and the Internal
Control functions conduct follow-up and
supervision in accordance with what is
adopted in the introduction of this report. The
outcome of evaluation activities shall be
reported to Group management and to the
Audit Committee.
Corporate Governance 77