Since 2005, Ernst & Young has awarded its annual Risk Transparency Award to the company that best presents its risk exposure and risk management in its annual report. The purpose of the award is to recognize the company that has the most transparent annual report from a risk perspective.
This year, Ericsson beat 130 other companies to emerge as the winner. The companies that participated in the competition are all listed on either the Large Cap or Mid Cap lists of the NASDAQ OMX Stockholm.
In making the award, the jury said:
"This year’s winner is a global player working in a complex environment, where standards and expectations for annual reporting are higher than normal. Year after year the company has maintained an even and high level of quality and constantly improved its risk reporting. In spite of the challenges that a global organization faces, the winner, in its most recent annual report, presented a structured and balanced description of the company’s risks, risk exposure and risk management mechanisms. Successful risk transparency work must always be based on two important factors: a comprehensive approach and making the information clear and accessible. Doing this on a global level requires commitment, strategic clear-sightedness and a willingness to prioritize transparency. This year’s winner of the Risk Transparency Award has indeed taken on and successfully met this challenge."
Ericsson CFO Jan Frykhammar will receive the Risk Transparency Award during Ernst & Young’s annual risk seminar in Stockholm tomorrow.
"We are very pleased to receive this award, which recognizes our long-term risk-management ambitions," Frykhammar says. "In the current global environment, it is crucial that we capture and monitor essential risks. It is also very important that we have a common understanding of risks and risk management, and a common approach that is integrated with our business processes."
Notes to editors
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About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
Ericsson is the world’s leading provider of communications technology and services. We are enabling the Networked Society with efficient real-time solutions that allow us all to study, work and live our lives more freely, in sustainable societies around the world.
Our offering comprises services, software and infrastructure within Information and Communications Technology for telecom operators and other industries. Today more than 40 percent of the world’s mobile traffic goes through Ericsson networks and we support customers’ networks servicing more than 2.5 billion subscribers.
We operate in 180 countries and employ more than 100,000 people. Founded in 1876, Ericsson is headquartered in Stockholm, Sweden. In 2011 the company’s net sales were SEK 226.9 billion (USD 35.0 billion). Ericsson is listed on NASDAQ OMX, Stockholm and NASDAQ, New York stock exchanges.
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