The group’s financial policy lays down guidelines for the various entities’ financial management and activities. The objective is to limit financial risk, promote capital rationalisation and optimise financial resources.
Veidekke’s overall risk profile also includes climate risk, which may impact the group’s operational, financial and market risks. Work is ongoing to survey and analyse climate risk in all the group’s operations.
The group’s financial and strategic planning follows an annual schedule which prescribes fixed deadlines for the preparation of framework documents, strategy plans and budgets, as well as ongoing monitoring of the group’s operations.
The group is managed in accordance with financial targets related to profit margin, capital yield and capital structure. These targets are broken down into sub-targets for operationalisation by the individual operations.
The group accounts are prepared in accordance with applicable IFRS regulations. Accounting information is reported through the group’s joint reporting system. A general chart of accounts and integrated control systems are intended to promote information consistency. Accounting information is consolidated and checked at several levels within the organisation, and Veidekke’s external auditor conducts expanded checks at project level.
Anyone representing Veidekke has a duty to comply with the group’s core values and ethical guidelines, which draw up a framework for proper conduct and set out practical requirements in the areas of anti-corruption, occupational health and safety, working environment, external environment, social dumping and proper market conduct. The group organises training to help the organisation handle complex issues related to competition law and ethical conduct. Veidekke has rules in place for the reporting of censurable matters involving the group (whistleblowing), and has appointed an external whistleblowing ombudsman.