ANNUAL REPORT 2017 Director-General's Statement
ANNUAL REPORT 2017 LFV is with you on the travel
ANNUAL REPORT 2017 This is LFV
ANNUAL REPORT 2017 The Year in Brief
ANNUAL REPORT 2017 Operating Environment and Marke
t
ANNUAL REPORT 2017 Strategy and Objectives
ANNUAL REPORT 2017 Customer Focus
ANNUAL REPORT 2017 Environment
ANNUAL REPORT 2017 Aviation Safety
ANNUAL REPORT 2017 Innovation
ANNUAL REPORT 2017 Cooperation and Partnerships
ANNUAL REPORT 2017 Employees
ANNUAL REPORT 2017 Board of Director's Report
ANNUAL REPORT 2017 Income Statement, Comments on t
he Income Statement
ANNUAL REPORT 2017 Balance Sheet
ANNUAL REPORT 2017 Comments on the balance sheet a
nd funds statements
ANNUAL REPORT 2017 Financing
ANNUAL REPORT 2017 Accounting and Valuation Princi
ples
ANNUAL REPORT 2017 Notes
ANNUAL REPORT 2017 Investments
ANNUAL REPORT 2017 Reporting in Accordance with Pe
rformance Plan
ANNUAL REPORT 2017 Reporting in Accordance with Ap
propriation Directions
ANNUAL REPORT 2017 Risk Management
ANNUAL REPORT 2017 Dividend Proposal
ANNUAL REPORT 2017 Audit Report AUDIT REPORT AUDIT
REPORT FOR LUFTFARTSVERKET 2017 REPORT ON THE ANNUAL REPORT WITH CONSOLIDATED ACCOUNTS Opinions In accordance with Section 5 of the Auditing of State Activities, etc. Act (2002:1022), the Swedish National Audit Office (SNAO) has audited the annual report and consolidated accounts for the Luftfartsverket (LFV) for 2017, dated 15/02/2018. According to the SNAO’s assessment, LFV has: • drawn up the annual report and consolidated accounts in accordance with the Ordinance (2000:605) concerning Annual Reports and Budget Documentation, instructions, appropriation directions and government decisions specific to LFV. • in all material respects provided a true and fair picture of LFV and the group’s financial results, financing and financial position, as of 31 December 2017. • submitted a directors’ report and other information that is consistent with and supports a true and fair picture in the annual report as a whole. Grounds for the opnions The SNAO has carried out the audit in accordance with the International Standards of Supreme Audit Institutions (ISSAI) for financial auditing and the SNAO’s instructions for auditing profit and loss accounting and other information in the annual report (RRI). Our responsibility, according to these standards, is described in more detail in the section entitled Auditor’s responsibility. We are independent of the LFV in accordance with the ISSAI 30 Code of Ethics and have fulfilled our commitments pursuant to these ethical rules. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for the SNAO’s statements. Information beyond the annual financial report The annual report with consolidated accounts contains information beyond 62 the obligatory and can be found on pages 1–30. Senior management is responsible for this information. Our statements regarding the annual report with consolidated accounts do not cover this information and we do not issue any statements supporting this information. In connection with our audit of the annual report with consolidated accounts, it is our responsibility to read the information identified above and consider whether it is significantly inconsistent with the annual report, with consolidated accounts or with the knowledge we have otherwise obtained during the audit, as well as to assess whether the information in general appears to contain serious inaccuracies. If, based on the work carried out with regard to this information, we conclude that the information contains a serious error; we are obligated to report this. We have nothing to report in this regard. The Senior management’s responsibility for the annual report LFV’s senior management is responsible for drawing up an annual report that provides a true and fair picture in accordance with the Ordinance (2000:605) concerning Annual Reports and Budget Documentation and in accordance with instructions, appropriation directions and other decisions concerning LFV. LFV’s senior management are also responsible for ensuring that the internal controls they deem necessary are in place, in order to draw up an annual report that does not contain material inaccuracies, regardless of whether these are due to impropriety or error. In preparing the annual report, the senior management is responsible for the assessment of LFV’s ability to continue operations. They highlight, as applicable, circumstances that may affect the ability to continue operations and to use the going concern assumption, unless there are special reasons not to do it. Auditor’s responsibility Our goal is to achieve a reasonable degree of certainty that the annual report as a whole is free from material inaccuracies, whether due to impropriety or error, and to submit an audit report containing SNAOs statements. Reasonable certainty is a high level of certainty, but is no guarantee that the audit carried out in accordance with the ISSAI and the RRI will always detect the presence of a material inaccuracy. Inaccuracies may arise due to impropriety or error and are considered material if they, individually or together, can reasonably be expected to impact on the financial decision the user makes on the basis of the annual report. As part of an audit in accordance with the ISSAI, we use professional judgement and employ a professional scepticism throughout the audit. In addition: • we identify and assess the risks of material inaccuracies in the annual report, regardless of whether they are due to impropriety or error, structure and conduct our audit procedures, inter alia, based on these risks, and obtain evidence that is sufficient and appropriate to constitute grounds for our statements. The risk of not detecting a material inaccuracy resulting from impropriety is higher than that of a material inaccuracy due to error, because impropriety may involve acting in collusion, forgery, deliberate omissions, misinformation or failure to implement internal controls. • we obtain an understanding of the part of the LFV’s internal controls which is relevant for our audit in order to structure audit procedures that are appropriate given the circumstances, but not for stating an opinion about the effectiveness of LFV’s internal controls. • we evaluate the appropriateness of accounting principles used and the reasonableness of management’s accounting estimates and related disclosures. • we draw a conclusion on the appropriateness of the management using the going concern assumption in preparing the annual report. We also draw a conclusion, based on the acquired audit evidence, on whether there are any material uncertainty factors related to such events or LFV ANNUAL REPORT 2017
ANNUAL REPORT 2017 Board of Directors
ANNUAL REPORT 2017 Group Management
ANNUAL REPORT 2017 Five Years at a Glance
ANNUAL REPORT 2017 Abbreviations and Explanations