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STATEMENTS • 139
In connection with our audit of the consolidated financial statements and the parent company financial statements, our
responsibility is to read the Management’s review and, in doing so, consider whether the Management’s review is materially
inconsistent with the consolidated financial statements or the parent company financial statements, or our knowledge
obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider
whether the Management’s review provides the information required under the Danish Financial Statements Act.
Based on the work we have performed, we concluded that the Management’s review is in accordance with the
consolidated financial statements and the parent company financial statements and has been prepared in accordance
with the requirements of the Danish Financial Statements Act. We did not identify any material misstatements of the
Management’s review.
MANAGEMENT’S RESPONSIBILITIES FOR THE CONSOLIDATED FINANCIAL STATEMENTS AND THE
PARENT COMPANY FINANCIAL STATEMENTS
Management is responsible for the preparation of consolidated financial statements and parent company financial
statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted by
the EU and additional disclosure requirements in the Danish Financial Statements Act, and for such internal control as
Management determines is necessary to enable the preparation of consolidated financial statements and parent company
financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements and the parent company financial statements, Management is
responsible for assessing the Group’s and the Parent Company’s ability to continue as a going concern, disclosing, as
applicable, matters related to going concern and using the going concern basis of accounting in preparing the consolidated
financial statements and the parent company financial statements unless Management either intends to liquidate the Group
or the Parent Company or to cease operations, or has no realistic alternative but to do so.
AUDITORS’ RESPONSIBILITIES FOR THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS
AND THE PARENT COMPANY STATEMENTS
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements and the parent
company financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with ISAs and additional requirements applicable in Denmark will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these
consolidated financial statements and parent company financial statements. As part of an audit conducted in accordance
with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain
professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the consolidated financial statements and the parent company
financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate
in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s and the Parent
Company’s internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by Management.