SECURITAS AB Annual Report 2011

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136 Annual Report Signatures of the Board of Directors The Board of Directors and the President declare that the consolidated financial statements have been prepared in accordance with IFRS as adopted by the EU and give a true and fair view of the Group’s financial position and results of operations. The financial statements of the Parent Company have been prepared in accordance with generally accepted accounting principles in Sweden and give a true and fair view of the Parent Company’s financial position and results of operations. Securitas Annual Report 2011 Carl Douglas Vice Chairman Annika Falkengren Director Susanne Bergman Israelsson Director Employee Representative Stockholm, March 16, 2012 Melker Schörling Chairman Fredrik Cappelen Director Sofia Schörling Högberg Director Åse Hjelm Director Employee Representative Alf Göransson President and Chief Executive Officer, Director Our audit report has been submitted on March 16, 2012 PricewaterhouseCoopers AB Peter Nyllinge Authorized Public Accountant The statutory administration report of the Group and the Parent Company provides a fair review of the development of the Group’s and the Parent Company’s operations, financial position and results of operations and describes material risks and uncertainties facing the Parent Company and the companies included in the Group. The statements of income and balance sheets of the Parent Company and the Group are subject to adoption by the Annual General Meeting on May 7, 2012. Marie Ehrling Director Fredrik Palmstierna Director jan Prang Director Employee Representative
Auditor’s report To the Annual General Meeting of the shareholders of Securitas AB, corporate identity number 556302-7241 Report on the annual accounts and consolidated accounts We have audited the annual accounts and consolidated accounts of Securitas AB for the year 2011. The annual accounts and consolidated accounts of the company are included in the printed version of this document on pages 61–136. Responsibilities of the Board of Directors and the President and CEO for the annual accounts and consolidated accounts The Board of Directors and the President and CEO are responsible for the preparation and fair presentation of these annual accounts and consolidated accounts in accordance with International Financial Reporting Standards, as adopted by the EU, and the Annual Accounts Act, and for such internal control as the Board of Directors and the President and CEO determine is necessary to enable the preparation of annual accounts and consolidated accounts that are free from material misstatement, whether due to fraud or error. Auditor’s responsibility Our responsibility is to express an opinion on these annual accounts and consolidated accounts based on our audit. We conducted our audit in accordance with International Standards on Auditing and generally accepted auditing standards in Sweden. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the annual accounts and consolidated accounts are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the annual accounts and consolidated accounts. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the annual accounts and consolidated accounts, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation and fair presentation of the annual accounts and consolidated accounts 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 company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors and the President and CEO, as well as evaluating the overall presentation of the annual accounts and consolidated accounts. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinions In our opinion, the annual accounts have been prepared in accordance with the Annual Accounts Act and present fairly, in all material respects, the financial position of the Parent Company as of December 31, 2011 and of its financial performance and its cash flows for the year then ended in accordance with Auditor’s report on the Corporate Governance Statement To the Annual General Meeting of the shareholders of Securitas AB, corporate identity number 556302-7241 It is the Board of Directors who is responsible for the Corporate Governance Statement for the year 2011 on pages 36–51 and that it has been prepared in accordance with the Annual Accounts Act. We have read the corporate governance statement and based on that reading and our knowledge of the company and the Group we believe that we have a sufficient basis for our opinions. This means that our statutory Stockholm, March 16, 2012 PricewaterhouseCoopers AB Peter Nyllinge, Authorized Public Accountant Stockholm, March 16, 2012 PricewaterhouseCoopers AB Peter Nyllinge, Authorized Public Accountant Annual Report Auditor’s report and Auditor’s report on the Corporate Governance Statement (Translation of the Swedish original) the Annual Accounts Act, and the consolidated accounts have been prepared in accordance with the Annual Accounts Act and present fairly, in all material respects, the financial position of the Group as of December 31, 2011 and of their financial performance and cash flows in accordance with International Financial Reporting Standards, as adopted by the EU, and the Annual Accounts Act. The statutory administration report is consistent with the other parts of the annual accounts and consolidated accounts. We therefore recommend that the Annual General Meeting of shareholders adopt the income statement and balance sheet for the Parent Company and the Group. Report on other legal and regulatory requirements In addition to our audit of the annual accounts and consolidated accounts, we have examined the proposed appropriations of the company’s profit or loss and the administration of the Board of Directors and the President and CEO of Securitas AB for the year 2011. Responsibilities of the Board of Directors and the President and CEO The Board of Directors is responsible for the proposal for appropriations of the company’s profit or loss, and the Board of Directors and the President and CEO are responsible for administration under the Companies Act. Auditor’s responsibility Our responsibility is to express an opinion with reasonable assurance on the proposed appropriations of the company’s profit or loss and on the administration based on our audit. We conducted the audit in accordance with generally accepted auditing standards in Sweden. As a basis for our opinion on the Board of Directors’ proposed appropriations of the company’s profit or loss, we examined the Board of Directors’ reasoned statement and a selection of supporting evidence in order to be able to assess whether the proposal is in accordance with the Companies Act. As a basis for our opinion concerning discharge from liability, in addition to our audit of the annual accounts and consolidated accounts, we examined significant decisions, actions taken and circumstances of the company in order to determine whether any member of the Board of Directors or the President and CEO is liable to the company. We also examined whether any member of the Board of Directors or the President and CEO has, in any other way, acted in contravention of the Companies Act, the Annual Accounts Act or the Articles of Association. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Opinions We recommend to the Annual General Meeting of shareholders that the profit be appropriated in accordance with the proposal in the statutory administration report and that the members of the Board of Directors and the President and CEO be discharged from liability for the financial year. examination of the Corporate Governance Statement is different and substantially less in scope than an audit conducted in accordance with International Standards on Auditing and generally accepted auditing standards in Sweden. In our opinion, the Corporate Governance Statement has been prepared and its statutory content is consistent with the annual accounts and the consolidated accounts. Securitas Annual Report 2011 137
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Annual Report 2011
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Operating income before by business
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“ Specialization rather than dive
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2. Acquisitions Approximately half
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The key to success lies in “ work
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Knowledge Leader in Security Securi
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We specialize in customer segments
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12 Presentation of our business Ove
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14 Presentation of our business Sec
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18 Presentation of our business Mob
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22 Presentation of our business New
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· Increased use of technology. Inc
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Europe, 4-6 % market growth Growth:
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Greater customer value when investi
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A Challenging Year At year-end, the
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LARGEST SHAREHOLDERS AT DECEMBER 31
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Governance and Management
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Clear and Effective Structure for G
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The work of the Board of Directors
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Employee representatives 1 Annika F
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Supervisory Board (Finansinspektion
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Enterprise risk management process
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all risks related to the infrastruc
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tions deemed to be risk areas, for
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Board of Directors The activities o
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income and expenses in the statemen
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Volume-related factors The first tw
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Aimé Lyagre b. 1959 Chief Operatin
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60 The formal annual accounts and t
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62 Annual Report Report of the Boar
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70 Annual Report Consolidated finan
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76 Annual Report Notes and comments
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Page 146: Securitas AB P.O. Box 12307 SE-102
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SECURITAS AB Annual Report 2011

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