The internal audit function reports directly to the board of directors and is independent of Crescit’s operations. The internal audit function is a permanent part of Crescit’s organization.
The Board of Directors has appointed Nexia Revision Stockholm AB ("Nexia") with Anders Fornstedt as Internal Auditor. Crescit and Nexia have entered into an engagement agreement which regulates the scope of the engagement and the conditions of responsibility. In cases where the Internal Audit function is unable to fulfil its mission due to conflict of interest or lack of competence in the auditing area, external resources shall be procured to assist the Internal Audit function in its auditing mission.
The internal audit’s activities shall, when required, be coordinated with review assignments undertaken by the external auditors. Crescit’s external auditors are responsible for auditing financial statements (including financial reporting) and thereby related documents.
Crescit’s internal audit function should based upon the audit plan approved by the board of directors investigate and assess whether Crescit’s systems, internal control and procedures are adequate and effective. Furthermore, the internal audit function should give recommendations on the basis of the work carried out and verify compliance with those recommendations, and report directly to the board of directors and the CEO regarding internal audit matters.
The internal audit function controls that any observations or recommendations given by the external auditors are addressed and followed up on. The internal audit function should also, if needed, participate in meetings with Crescit’s external auditors.
For a detailed description of the internal audit function’s responsibilities and duties, a potential investor can take part of the information in the operating guidelines for the internal audit function which can be obtained from the fund company.
