Compliance Risks


Compliance risks are related to the business ability to manage impact of new legislation and regulation, as well as process to manage unforeseen disputes or other legal or contractual uncertainties.

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Risk

5. IT Compliance
Risk for compliance with new EU privacy regulation/GDPR
Especially regarding third-party involvement.
Rating:Unchanged compared to last year

6. Vendor management
Product quality risk
Selling goods from vendors, whose product quality we do not have control over.
Rating: Unchanged compared to last year

Mitigation of risk

5. IT Compliance
The Group has since the GDPR implementation continuously worked with data privacy, ensuring full compliance with the regulation. Data are not spread across different third-party systems securing data discipline and control in own systems.

6. Vendor management
We have long-term relationships with the brands that we work with, and most often possible disputes are managed informally. To minimise risk for uncertainties that may lead to a dispute and the risk for financial exposure
contractual agreements has been signed with vendors.

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