Recently, the National Audit Office submitted a report for the audit of Matís' annual accounts for the year 2015. The report is without comment and this is the second time this year that Matís receives a good grade in this matter.
In addition to the traditional auditing as required by law, a risk analysis was performed for the financial statements and an analysis was made of the operations and balance sheets for 2015, and it was found that Matis' internal control regarding the financial statements is good.
Accounting processes and procedures are being worked on in collaboration with the National Audit Office, and it is a great competition issue for the company that the operation is in such a way that no comments are made either by domestic auditors or foreign parties who take the company out for collaborative projects. Integrity is of great importance to managers and employees, whether it is integrity in scientific work and research or integrity when it comes to Matís' operations and financial management.
The company's board also regularly monitors the results and interim settlements are prepared regularly throughout the year.
As previously stated, the review was without comment and this is the second time this year that Matís receives a good grade in this matter. This spring, an extensive review was carried out by the European Union regarding all of Matís' financial management when it comes to projects that the company has managed within the framework of the European Research Programs (FP7). That review was not without comment.
For further information Kristinn Kolbeinsson, CFO of Matís.