This includes for example the risk of: network failure affecting service delivery; system failure or incorrectly applied rates in the billing system affecting our ability bill our customers correctly; fraud causing loss of revenues or increased costs; etc.
Management in each market are responsible for identifying and managing the operational risks. In many cases they are supported in this work by central functions (such as for example Group Security and central Network & IT) who has expertice in specific functional areas and who also are responsible for issuing policies and guidance as a way to mitigate the group’s total risk exposure. The central function Group Internal Control performs regular audits of each business in order to assess the adequacy of each process and to highlight unmitigated risks to management. The result of these audits are also presented to the Group CFO and Group CEO as well as to the Board through the Audit Committee.