Novo Nordisk has chosen an integrated approach to reporting on its financial and non-financial performance. Hence, our annual reporting follows current international standards in terms of both mandatory and voluntary reporting.
As of 2004 Novo Nordisk's financial accounting principles comply with International Financial Reporting Standards (IFRS) as adopted by the EU. This is one year ahead of requirements. See Accounting policies.
Sarbanes–Oxley
In 2005, again a year ahead, Novo Nordisk is in full compliance with the requirements of documenting and reporting on the effectiveness of internal controls over financial reporting, as required by the Sarbanes-Oxley Act. Novo Nordisk provides this information in its download center Form 20-F filed in February 2006.
Corporate governance codes
As an international company listed on the stock exchanges in Copenhagen, New York and London, Novo Nordisk is in compliance with Danish, US and UK securities laws, with the Danish Recommendations on Corporate Governance, and is in general in compliance with corporate governance standards on the New York and London Stock Exchanges. See Novo Nordisk's approach to corporate governance.
AA1000 Framework
Novo Nordisk's non-financial reporting follows the accountability standard, AA1000 Framework. It states that reporting must provide a complete, accurate, relevant and balanced picture of the organisation's approach to and impact on society. The annual report is assured against AA1000 Assurance Standard. See the Auditor's report in assurance statement.
Global Reporting Initiative Guidelines
Novo Nordisk reports in accordance with the Global Reporting Initiative's (GRI's) 2002 Sustainability Reporting Guidelines which require reporting according to 11 principles and against a list of indicators. See the GRI index with an overview of the full 'in accordance' reporting.
Global Compact
Novo Nordisk is a signatory to the United Nations Global Compact, a platform for promoting good corporate principles and learning in the areas of human rights, labour, environment and anti-corruption. We report on actions to implement its 10 principles during 2005 in a Communication on Progress, including performance metrics aligned with the GRI Guidelines.
This page has been assessed by PricewaterhouseCoopers as part of its assessment of Novo Nordisk’s statement that it reports ‘in accordance’ with GRI. Please refer to Audit and assurance for a full description of the nature of assurance offered.
