Group entities audited, Grundfos Code of Conduct

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Grundfos Corporate Internal Control (CIC) visits a selected amount of the Grundfos companies every year. The purpose is to review and rate the internal control environment and to submit observations, risk descriptions and recommendations for improving the business processes and controls, also in relation to the Grundfos Code of Conduct.

During 2011, CIC audited 45 group entities. 6 of the visits were unannounced. While in 2010 most of the visits were first-time-visits, in 2011, 29 visits were 2nd visits and 3 were 3rd visits. This leading to a higher maturity rating in 2011.

 





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