Lundin - The company's own follow-up

Objective

The objective of the audit was to monitor that Lundin's planning, execution and improvement of follow-up activities complied with the company's own and the authorities' requirements.The audit comes under the PSA's main prioritisation for 2016 on management responsibilities. The main prioritisation attaches importance to how management is working to maintain an overview of its own activities, how non-conformities are handled and how improvement processes are initiated and managed.

This activity forms part of a series of audits initiated in 2013, with the object of addressing and assessing a number of companies' processes and systems for their own follow-up. In 2016, this audit activity has been directed at Statoil and Lundin.

Result

The audit of Lundin identified no regulatory non-conformities.

Two improvement points were identified, concerning the company's assessment of processes for follow-up, and the relationship between risk management and follow-up.