Catom Annual Report 2020 EN

tool was developed containing all legis lation and regulations relevant to our organisation. This tool verifies that we are informed of any changes in legislation so as to be able, if necessary, to take the required measures in time and remain compliant with the relevant legislation and regulations. When changes occur in the organisation in terms of sites or activities, an investigation is done with an external party into whether the inventory is still complete, and adjustments are then made where necessary. Damage to third-party properties and liability towards third parties Catom has taken out an extensive package of insurance policies against risks relating to damage to its property and to property of third parties, as well as other potential liabilities towards third parties. The insurance portfolio is monitored in collaboration with a specialised organisation and, where

necessary, specialists in the various insurance fields.

Risks in relation to financial reporting Catom’s financial reporting is part of a framework that covers its budgeting, reporting and forecasts. A distinction is made between reports for internal use and those for external use. The external repor ting at group level consists of an annual report that includes the annual accounts as audited by the independent auditor. The internal reporting consists of extensive daily, weekly, monthly and quarterly reports in which current developments are compared to the (cumulative) budgets and results from previous years. At the level of the main activities, financial and operational results are analysed and explained and, where needed, examined in detail. The quality of the financial reporting systems is regularly assessed in the context of the

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