Group le v els to support benchmarkin g within and bet w een divisions Each reportin g unit is responsible for actin g on an y de viations includin g writ ten action plans to address the de viations and a dead line for when the actions mus t be in place The Group closely monitor s the progress as of the fr s t and second quarterly business re views An y priori tiz ed areas for impro v ement are also addressed in the business plans All reports are subsequently a v ailable to Divisional M ana g ement Group M an a g ement and the Audit Commit tee Risk and control dia gnos tic s The Group per forms risk and control dia gnos tic s in functional areas which b y nature ha v e a hig h de gree of inherent risk These dia gnos tic s are per formed in addition to the recurrin g areas in the self assessment ques tionnaire In 2012 the focus on new countries in the Group continued since the y ha v e been assessed as a risk area in terms of inte gr ation from a fnancial reportin g and control s t andpoint The dia gnos tic ent ails a kit co v erin g IFRS reportin g compliance as w ell as k e y controls within fnancial reportin g processes contr act mana g ement and IT securit y These re views are usually conducted within the fr s t y ear from the acquisition date and a follo w up is per formed durin g the second y ear pro vided that signifcant areas for impro v ement ha v e been identifed Another area that w as subject to specifc dia g nos tic s in 2012 w as the contr act mana g ement k e y risk area refer to the t able on pa g e 42 and compliance with Group policies in this area These re views are conducted on a rot ational basis for all countries In 2012 w e also re view ed g o v ernance of pen sion funds in selected countries where defned beneft plans e xis ts Financial reportin g R e gular analyses of the fnan cial results at the v arious le v els of the or ganization usin g the Financial M odel ensure that fnancial information maint ains hig h qualit y Controller s at all le v els hold a k e y role in terms of inte grit y pro fessionalism and the abilit y to w ork in teams in or der to create the en vironment that is needed to achie v e tr ansparent rele v ant and timely fnancial information Local controller s are responsible for ensurin g compliance with the appro v ed set of poli cies and fr amew orks and for ensurin g that internal controls pert ainin g to fnancial reportin g processes are implemented The Controller is also responsible for reportin g fnancial information that is correct complete and timely The Controller receiv es continuous feedback from the Group re gar din g reportin g qualit y which is an efectiv e tool for enhanced reportin g In addition each division has a divisional controller with corre spondin g responsibilities at the divisional le v el Let ter of represent ation The Group has a repre sent ation process in which oper atin g unit Presidents and Controller s sign a let ter of represent ation in connection with the y ear end report s t atin g their opinion on whether or not the internal control o v er fnancial reportin g and the reportin g pack a g es g iv e a true and fair view of the fnancial position Information and communication Our channels for information and communication are cons t antly de v eloped to ensure that all s t af are g iv en clear objectiv es and are made a w are of the par ameter s that cons titute accept able business pr actices as w ell as the e xpect ations of the Boar d in mana g in g risks This pro vides a clear defnition of the Group s purpose and g oals account abilities and the scope of permit ted activities of emplo y ees S ys tems and procedures ha v e been imple mented that support complete accur ate and timely fnancial reportin g and pro vide mana g ement with the necessar y reports on business per formance relativ e to the es t ablished objectiv es The Group reportin g department re gularly issues guidance on reportin g mat ter s R eportin g units re gularly prepare fnancial and mana g ement reports that are discussed at re view meetin g s at diferent le v els These include an analysis of fnancial per formance and risks 45 Securit as Annual R eport 2012 G o v ernance and mana g ement Boar d of Director s report on corpor ate g o v ernance and internal control