Finansinspektionen is issuing SSAB AB a caution for deficiencies in the firm’s consolidated financial statements. The deficiencies relate to disclosures about the firm’s impairments related to goodwill.
SSAB AB (SSAB or the firm) is a Swedish limited liability company whose shares are admitted to trading on Nasdaq Stockholm. The firm is thus subject to the supervision of periodic financial information exercised by Finansinspektionen pursuant to the Securities Market Act (2007:528).
Finansinspektionen has investigated whether SSAB has prepared consolidated financial statements for the 2022 financial year in accordance with the regulatory framework governing the firm. The investigation shows that the disclosures in the consolidated financial statements about the firm’s impairment of goodwill do not meet the requirements set out in the regulations and that the statements have thus been prepared in violation of Article 4 of the IAS Regulation. In other words, SSAB has not prepared its consolidated financial statements in accordance with the provisions that apply to the firm.
Finansinspektionen makes the assessment that the violations are of such a nature that there are grounds on which to intervene against SSAB. Finansinspektionen takes the position that an intervention should occur via a caution.
