The Board of Directors assesses at regular intervals Hartmann’s overall organisational structure and organisation and the staffing of the functions that are important to internal controls and risk management.
The overall operational responsibility for risk management and internal controls relating to the financial reporting rests with the Executive Board. In collaboration with the local management of the individual companies, the Executive Board assesses whether the group has an appropriate and effective control environment. The Executive Board reports regularly to the Board of Directors on the development of Hartmann’s operations, the company’s financial performance and risk position.
Hartmann’s central finance function is responsible for the risk management and internal controls relating to the financial reporting. The finance function prepares group policies and instructions in the accounting area and ensures that the company has procedures in place for the preparation of financial statements, including an assessment of new accounting regulation and the presentation of the financial reporting to the stakeholders of Hartmann.
The financial reporting process is subject to systematic assessment on an ongoing basis in collaboration with the audit committee. The tasks and focus areas of the audit committee are updated every year in the form of an annual plan. According to the annual plan, the tasks of the audit committee include monitoring the financial reporting process in connection with the publication of annual and interim reports, including a review of accounting policies and significant accounting estimates and judgments.