Audited by PwC

Accounting policies

The consolidated financial statements of the Novozymes Group have been prepared in accordance with the International Financial Reporting Standards (IFRS), as adopted in the EU, and additional Danish requirements on the presentation of accounts. Novozymes has prepared its consolidated financial statements in accordance with all the IFRS standards in force. The accounting policies are unchanged from the previous year. The consolidated financial statements have been prepared under the historical cost convention, with the exception of the following items, which are recognized at fair value:

  • Available-for-sale financial assets
  • Derivatives

Some of the information required pursuant to IFRS is contained in the sections Report and Management. The rest will be found in the following sections.

The Novozymes Report does not contain the financial statements for the parent company, Novozymes A/S. The financial statements for the parent company can be found online under ”Financial statements for Novozymes A/S” at www.novozymes.com. Together the Novozymes Report and the financial statements for the parent company, Novozymes A/S, forms the Annual Report that will be send to the Danish Commerce and Companies agency

Reporting of selected environmental, social, and knowledge data is based on an assessment of which data are of particular significance for Novozymes’ earnings capacity in the longer term. We also believe these data to be of greatest relevance to our key stakeholders. Information on Novozymes’ use of the GRI indicators will be found in the online report under Supplementary reporting.

Environmental, social, and knowledge data are an integrated part of the Annual Report and are covered by the statutory audit performed by the auditor elected by the Annual Shareholders' Meeting.