NWG // FINANCIAL INFORMATION
Basis for opinion
We have performed the examination in accordance with FAR ’ s recommendation RevR 18 Examination of the ESEF report . Our responsibility under this recommendation is described in more detail in the Auditors ’ responsibility section . We are independent of New Wave Group AB in accordance with professional ethics for accountants in Sweden and have otherwise fulfilled our ethical responsibilities in accordance with these requirements .
We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion .
Responsibilities of the Board of Directors and the Managing Director
The Board of Directors and the Managing Director are responsible for the preparation of the Esef report in accordance with Chapter 16 , Section 4 ( a ) of the Swedish Securities Market Act ( 2007:528 ), and for such internal control that the Board of Directors and the Managing Director determine is necessary to prepare the Esef report without material misstatements , whether due to fraud or error .
Auditor ’ s responsibility
Our responsibility is to obtain reasonable assurance whether the Esef report is in all material respects prepared in a format that meets the requirements of Chapter 16 , Section 4 ( a ) of the Swedish Securities Market Act ( 2007:528 ), based on the procedures performed .
RevR 18 requires us to plan and execute procedures to achieve reasonable assurance that the Esef report is prepared in a format that meets these requirements .
Reasonable assurance is a high level of assurance , but it is not a guarantee that an engagement carried out according to RevR 18 and generally accepted auditing standards in Sweden will always detect a material misstatement when it exists . Misstatements can arise from fraud or error and are considered material if , individually or in aggregate , they could reasonably be expected to influence the economic decisions of users taken on the basis of the Esef report .
The audit firm applies ISQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Statements , and other Assurance and Related Services Engagements and accordingly maintains a comprehensive system of quality control , including documented policies and procedures regarding compliance with professional ethical requirements , professional standards and legal and regulatory requirements .
The examination involves obtaining evidence , through various procedures , that the Esef report has been prepared in a format that enables uniform electronic reporting of the annual and consolidated accounts . The procedures selected depend on the auditor ’ s judgment , including the assessment of the risks of material misstatement in the report , whether due to fraud or error . In carrying out this risk assessment , and in order to design audit procedures that are appropriate in the circumstances , the auditor considers those elements of internal control that are relevant to the preparation of the Esef report by the Board of Directors and the Managing Director , but not for the purpose of expressing an opinion on the effectiveness of those internal controls . The examination also includes an evaluation of the appropriateness and reasonableness of assumptions made by the Board of Directors and the Managing Director .
The procedures mainly include a technical validation of the Esef report , i . e . if the file containing the Esef report meets the technical specification set out in the Commission ’ s Delegated Regulation ( EU ) 2019 / 815 and a reconciliation of the Esef report with the audited annual accounts and consolidated accounts .
Furthermore , the procedures also include an assessment of whether the Esef report has been marked with iXBRL which enables a fair and complete machine-readable version of the consolidated statement of financial performance , financial position , changes in equity and cash flow .
Ernst & Young AB , was appointed auditor of New Wave Group Abs auditor by the general meeting of the shareholders on the May 18 , 2022 and has been the company ’ s auditor since May 28 , 2007 .
Gothenburg , 31 March , 2023
Ernst & Young AB
Jonas Svensson Authorized Public Accountant
134 // ANNUAL REPORT