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 relevant IFRS standards. The accounting policies are unchanged from last year.The consolidated financial statements have been prepared under the historical cost convention, with the exception of specific items as described below:
Some of the information required pursuant to IFRS is contained in the Report. The rest will be found in the following sections.
Implementation of standards which have been approved but have not yet entered into force as at December 31, 2006 involves changes to IFRS 7 and 8, which, when they are implemented, are not expected to give rise to significant changes to the figures in the consolidated financial statements.
Environmental, social and knowledge data has been selected on the basis of an assessment of which data is of particular significance for Novozymes’ long-term earnings capacity. We also believe this 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 "Other -information".
Environmental, social and knowledge data is an integrated part of the Annual Report and is covered by the statutory audit performed by the auditor elected by the Annual Meeting of Shareholders.
