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- Lysbilde: 1
- We also expanded the notes to the financial statements to meet the investors worries.
- I 've read the audit update(regarding climate change risk) , Could you summariza how audit handling these matters?
- Under current conditions, no immediate impairment required after evaluated all assets (farmlands, plant) under a 2degrees scenario.
- After reviewedd provisions and found no material amounts that needed to be recorded about whether any assets needed impairment and occelerated depreciation due to climate, also in line with emerging reporting standards under IFRS S2.
- Lysbilde: 2
- We provided additional disclousures to expore insight and revisit our assumptions regularly after new law occurs.
- At first, I was cautious... I didn't want the account to overstate the impact of hypothetical future events
- Also,we intend to include a Key Audit Matter in our auditor's report about climate risk
- In the report , by examining the scenario analysis and performing independent secsitivity analysis, this highlights the investors that we care climate-related financial risk.
- Lysbilde: 3
- We are integrating climate into our financial planning more deeply
- Each year we will reassess to find out if climate impacts grow or new regulations kick in
- What about next year and beyond?
- From the audit perspective, if IFRS S2 climate disclosures become mandatory in jurisdiction, these will be part of the annual reportFrom management side, improving data and system to quantify climate impacts.
- Lysbilde: 4
- No unresolved issues at this point. But we did have robust discussions around whether to adjust the assets value.
- Great collaboration! Any unsolved issues between the audit team and management?
- At the end , audit team and management reached common : Managements provided additional evidence to supporttheir position.Enhanced discloures to ensure no one is misled about the potential future impacts.If audit team did not satisfied , they would have insisted on adjustements.
- Lysbilde: 5
- If impairments or recognizing big provisions, we will back you in doing the right thing.
- Thank you for your excellent job. As chair if the audit committee, it is my respomsibility to board
- Keep to refine climate risk assessments to prove a scandal or sudden write-off that could have been foreseen.
- Lysbilde: 6
- We will finanliza our audit report with climate risk and issuing an Unmodified audit opinion
- Any final items on the matter?
- Unmodified audit opinion is the financial statements with the added disclosures, giving a ture and fair view in all material respects
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