Aker Solutions Earnings and Corporate Presentation
Risk Factors (cont.)
Ethical and Political Risks
Aker Solutions could potentially become involved in unethical behavior, either
directly or through third parties or partners. The company has operations in
countries associated with high political, reputational and corruption risks. Key
tools to reduce these risks are the company's code of conduct and anti-corruption
compliance program, which are implemented at all locations globally. Risks are
also managed through country analyses, mandatory awareness training,
compliance reviews and integrity due diligence. Aker Solutions' anti-corruption
program is subject to quarterly reporting to the Audit Committee.
Aker Solutions has zero tolerance for corruption and works vigilantly to prevent
such behavior. The company has control systems in place throughout the
organization that are designed to identify and limit the effects of violations of the
code of conduct. While the breaches were limited in scope, the company took
swift action to address them. In general, employees face consequences spanning
from a warning to dismissal for violating the code of conduct.
Given its size and presence in different parts of the world, Aker Solutions
experiences from time to time being investigated by various types of local
authorities. At present Aker Solutions is aware of a few open matters, however
none of them are deemed material.
Risk Mitigation
Aker Solutions has company-wide policies, procedures and tools that identify,
evaluate and respond to risks actively and systematically. The assessment,
definition, follow-up and implementation of adequate mitigating actions towards
the main risk factors are all integral parts of the overall governance of the
company. Aker Solutions applies a combination of risk management practices in
order to effectively manage the risk to the company such as: internal controls,
scenario planning, sensitivity analysis and audit management.
Other risks
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The risk factors set out above are non-exhaustive and Aker Solutions is subject
to a number other risks of both a general and company specific nature.
The annual report of Aker Solutions for 2018 provides more information on risks
and uncertainties. The annual report is available on www.akersolutions.com.
Reference is also made to the risk factors set out in the prospectus (comprising
the registration document and the securities note) issued in connection with the
2018 bond issue, as such risk factors continue to be relevant for Aker Solutions.
The prospectus is available on www.oslobors.no (Ticker: AKSO03).
2019 Aker Solutions
May 16, 2019 Slide 49
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