About corporate control
The goal of corporate control is to assess whether the minister has performed his/her duties as administrator of the State's financial interests in accordance with the decisions and intentions of the Storting.
Ownership is one of several policy instruments that the State can use in order to realise its objectives. The companies in which the State has interests are independent legal persons outside the ordinary government administration. For wholly-owned companies that have been assigned responsibilities on behalf of society, corporate control can also include performance audits.
The minister's administration is assessed on the basis of the following four control perspectives:
- Compliance with the decisions and intentions of the Storting
- Fulfilment of social responsibilities and sector policy goals
- Efficient and financially sound operation
- Correct information to the Storting and the Office of the Auditor General.
The content of corporate control
- Part I of Document 3:2 (2011-2012) is the Office of the Auditor General's report on the control of the state-owned companies.
- Part II concerns the control of selected topics within the execution of the Government's ownership policy as formulated in Report No 13 to the Storting (2006-2007) An active and Long-Term State Ownership. In its control for 2010, the Office of the Auditor General has investigated the use of external auditors in selected companies. The result of the control has been submitted to the Ministry of Trade and Industry for its opinion.
- Part III presents the results of the comprehensive controls, which are based on risk and materiality assessments.
- Part IV deals with matters that have emerged during the Office of the Auditor General's annual control of the minister's report for each company, minutes of annual general meetings or similar and the company's annual reporting, among other things.
- Part V concerns follow-up of previously reported matters.