Accounting policies


Audited by PwC

The consolidated financial statements of the Novozymes Group have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by 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 consolidated financial statements have been prepared on a going concern basis and 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.report2009.novozymes.com. Together, the Novozymes Report and the financial statements for the parent company, Novozymes A/S, form the Annual Report that will be sent to the Danish Commerce and Companies Agency.

Reporting of selected environmental and social 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 and social data are an integrated part of the Novozymes Report and are covered by the statutory audit performed by the auditor elected by the Annual Shareholders’ Meeting.

My Report