10. Risk management and internal control

The Group has established a risk management process for identifying, evaluating and monitoring/mitigating risks related to NextGenTel’s business.

Risks are identified and evaluated with respect to probability of occurrence and the impact of the risk. Actions are then defined in order to monitor or mitigate the risk. This process involves all departments and executive management before the outcome is reported to and reviewed by the board at least annually. In addition, risk management and internal control is performed through various processes within the Group, both on a board level and in daily management of the company.

The board performs risk management and internal control through board meetings. Each month the board receives a board report from management outlining the financial and operational performance of the company. An annual planning and budgeting process which ends with a budget approved by the board sets the framework for the coming year. In this process, the board carries out a review of the company’s most important areas of exposure to risk.

Risk management and internal control on a management level is carried out through monthly reviews of financial performance. Financial risk management and internal control procedures are carried out both on a group level and in each subsidiary.

The board presents a review of the Group’s financial status in the annual directors’ report including a description of the Group’s risk management and internal control. There are currently no internal control routines in place for following up the Group’s corporate values and ethical guidelines.

340,000 customers in total

(Customer figures last updated as per Q3/17)

Norway consumer

Broadband 117,100

VoIP 42,600

Mobile 38,000

TV 20,500

Norway business

Internet 16,700

VoIP 8,900

Mobile 16,300

International markets

Netherlands 65,300

Denmark 10,400

Switzerland 4,500

NextGentel
NextGenTel Holding ASA | Harbitzalleen 2A, 0275 Oslo | Postboks 54 Skøyen, 0212 Oslo | Telephone: (+47) 21 96 49 09 | irSPAMFILTER@nextgentel.com | Design and development: Byte
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