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Axfood’s finance functions are integrated through a joint finance and accounting system and joint accounting instructions.

The Board and Executive Committee receive information on a regular basis about the Group’s results of operations, financial position and business development. The Audit Committee is responsible for the preparation of the Board’s work to quality assure the Group’s financial reporting. The internal control work provides support to the Board and management in assessing and reviewing critical risk areas in the financial reporting, so that they can thereafter decide which efforts and follow-up initiatives to employ in selected areas. Further, the Group has a central risk management function that works through the companies. Axfood has no internal audit function, since the functions described above fulfil this role. However, Axfood does have a defined process for evaluating and monitoring internal control. The method of monitoring is decided on by the Board, which also conducts a yearly evaluation of the need of a separate internal audit function.