Reporting and auditing

We publish our annual report and three interim reports in English and excerpts from these reports in Danish. Read about the legal foundation for our reports as well as information about the roles and division of responsibilities between internal and external auditing at Danske Bank.

Legal foundation for our financial reports

  • Annual report
    • International Financial Reporting Standards (IFRS)
    • The Danish Financial Supervisory Authority's Executive Order on Bank Accounts (parent company)
    • The Danish Financial Business Act
    • The Copenhagen Stock Exchange guidelines for issuers of listed securities and Danish accounting standards, except where otherwise stipulated by Danish banking regulations
  • Half-year report
    • International Financial Reporting Standards (IFRS)
    • The Danish Financial Supervisory Authority's Executive Order (parent company)
    • The Copenhagen Stock Exchange's rules
  • First and third quarter reports
    The first-quarter and third-quarter reports are regulated by the IFRS and the Copenhagen Stock Exchange's rules only. Our Danish subsidiaries not subject to the Financial Business Act submit their accounts in accordance with the Danish Accounts Act.
  • Business unit reporting

    We prepare accounts for our business units in order to make the earnings of each unit transparent. The accounts are based on the same income criteria and valuation principles that apply to the external accounts.

    Our Danish subsidiaries not subject to the Financial Business Act submit their accounts in accordance with the Danish Accounts Act.

Internal audit

The primary role of Group Internal Audit is to help the Board of Directors and the Executive Board protect the assets, reputation and sustainability of Danske Bank Group.

Group Internal Audit does this by evaluating and improving the effectiveness of Danske Bank's risk management, control and governance processes.

Internal auditing is an independent assurance activity based on a systematic approach, and Group Internal Audit is guided by the principle of adding value to the Group.

Terms of Reference and audit agreement

  • Terms of Reference

    The Terms of Reference laid down for Group Internal Audit define  

    • the scope of the work carried out by Group Internal Audit
    • the basis of the rights and obligations of Group Internal Audit and the Group Chief Auditor
    • special audit and reporting requirements

    The contents of the Terms of Reference incorporate the requirements in the Executive Order on Auditing Financial Undertakings etc. as well as Financial Groups and are agreed between the Board of Directors and the Group Chief Auditor.

  • Audit agreement
    The audit agreement outlines the division of responsibilities between Group Internal Audit and Danske Bank’s external audit firms as well as their collaboration.

External audit

Our external audit firm, Deloitte Statsautoriseret Revisionspartnerselskab, is responsible for the statutory financial audit of Danske Bank Group. The audit is conducted in accordance with International Standards on Auditing and additional requirements under Danish audit regulation.

The responsibilities of Deloitte Statsautoriseret Revisionspartnerselskab are to

  • audit the consolidated and parent company financial statements
  • audit the financial statements of subsidiaries and branches
  • provide advisory services and perform other assurance engagements

Audit fees

 Audit fees (DKK millions)  2015
 Audit firms appointed by the general meeting  
 Fees regarding statutory audit     16
 Fees regarding non-audit services    19
 Other audit firms  
 Fees regarding statutory audit       1
 Fees regarding non-audit services     -
 Total audit fees    36

About Danske Bank

We are a Nordic bank with strong local roots and bridges to the rest of the world. Our 19,000 employees serve customers in 16 countries.
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Corporate Governance

We work continually to improve our corporate governance and implement best practices.
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Reports

See our latest financial report, fact book and other relevant documents.
See reports