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In Sampo Group special attention is paid to the process of reporting the financial results of business activities. A sufficient level of internal control aims at ensuring the authenticity of all financial reporting.
Sampo Group's Financial Reporting Process
Various parts of the financial administration operating under the Group CFO are responsible not only for preparing the Sampo holding company and consolidated interim and annual financial statements required for external accounting, but also for producing internal accounts that act as management tools, such as monthly reports regarding the profitability of business activities. The group's control function also produces profit forecasts, analyses actual performance compared with the forecasts, and reports on deviations. Group control is also responsible for the Group's annual and quarterly Solvency II reporting to the supervisory authorities.
Moreover, the financial administration provides the group's operating management and the holding company's Board of Directors with reports, based on publicly available information, comparing Sampo's performance with that of its competitors, and also produces different types of market analyses and reviews.