New Wave Group AB Annual_report_2018_EN_HQ | Page 126

NWG // FINANCIAL INFORMATION
Responsibilities of the Board of Directors
and the CEO
The Board of Directors is responsible for the
proposal for appropriations of the company’s profit
or loss. At the proposal of a dividend, this includes
an assessment of whether the dividend is justifiable
considering the requirements which the company's
and the Group’s type of operations, size and risks
place on the size of the Parent company's and the
Group’s equity, consolidation requirements, liquidity
and position in general.
The Board of Directors is responsible for the
company’s organization and the administration of
the company’s affairs. This includes among other
things continuous assessment of the company’s
and the Group’s financial situation and ensuring
that the company's organization is designed so
that the accounting, management of assets and the
company’s financial affairs otherwise are controlled
in a reassuring manner. The CEO shall manage the
ongoing administration according to the Board of
Directors’ guidelines and instructions and among
other matters take measures that are necessary to
fulfill the company’s accounting in accordance with
law and handle the management of assets in a reas-
suring manner.
Auditor’s responsibility
Our objective concerning the audit of the adminis-
tration, and thereby our opinion about discharge
from liability, is to obtain audit evidence to assess
with a reasonable degree of assurance whether any
member of the Board of Directors or the CEO in any
material respect:
# # has undertaken any action or been guilty of
any omission which can give rise to liability to
the company, or
Reasonable assurance is a high level of assurance, but
is not a guarantee that an audit conducted in accor-
dance with generally accepted auditing standards in
Sweden will always detect actions or omissions that
can give rise to liability to the company, or that the
proposed appropriations of the company’s profit or
loss are not in accordance with the Companies Act.
As part of an audit in accordance with generally
accepted auditing standards in Sweden, we exercise
professional judgment and maintain professional
skepticism throughout the audit. The examination of
the administration and the proposed appropriations
of the company’s profit or loss is based primarily on
the audit of the accounts. Additional audit proce-
dures performed are based on our professional
judgment with starting point in risk and materi-
ality. This means that we focus the examination
on such actions, areas and relationships that are
material for the operations and where deviations
and violations would have particular importance
for the company’s situation. We examine and test
decisions undertaken, support for decisions, actions
taken and other circumstances that are relevant to
our opinion concerning discharge from liability. As
a basis for our opinion on the Board of Directors’
proposed appropriations of the company’s profit or
loss we examined whether the proposal is in accor-
dance with the Companies Act.
Ernst & Young AB, was appointed auditor of
New Wave Group AB by the general meeting of the
shareholders on the May 16, 2018 and has been the
company’s auditor since May 28, 2007.
Gothenburg, April 5, 2019
Ernst & Young AB
# # in any other way has acted in contravention of
the Companies Act, the Annual Accounts Act or
the Articles of Association.
Our objective concerning the audit of the proposed
appropriations of the company’s profit or loss, and
thereby our opinion about this, is to assess with
reasonable degree of assurance whether the proposal
is in accordance with the Companies Act.
126 // ANNUAL REPORT
Nina Bergman
Authorized Public Accountant