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Who We Are |
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| | | Fast Facts | | | |   | Our Market | | | | | Competitors | | | | | Customers | | | | | Governance | | | | | Board of Directors | | | | | Committees | | | | | Senior Management | | | | | Compensation | | | | | Shareholders Meeting | | | | | Proxy Statements | | | | | Articles of Association | | | | | Codes of Conduct | | | | | Reporting Structure | | | | | Manufacturing | | | | | Awards | | | | | Quality | | | | | Tools - Methodologies | | | | | Social Responsibility | | | | | Environmental Policy | | | | | History | |
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| Who We Are |
| World Leader in Automotive Safety |
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| Reporting Structure |
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Autoliv, Inc.’s consolidated financial statements are prepared in accordance with U.S. GAAP (i.e., U.S. Generally Accepted Accounting Principles). |
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U.S. GAAP are mainly created by the private sector such as the Financial Accounting Standards Board ("FASB"). U.S. GAAP also conveys compliance with the rules and regulations of the U.S. Securities and Exchange Commission ("SEC") applicable to U.S. public companies i.e., companies whose equities are listed on a U.S. stock exchange. The SEC is an independent regulatory agency of the U.S. Government whose mission is the protection of investors and its function to oversee the research, publication and enforcement of uniform accounting principles, disclosures and other information for those companies that are subject to its regulations.
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Furthermore the financial reporting of Autoliv Inc., needs to be in compliance with the U.S. Sarbanes Oxley legislation. The Sarbanes Oxley legislation was issued in 2002 to enhance corporate responsibility, combat corporate and accounting fraud and includes a section on the effectiveness of internal control over financial reporting. In connection with the issuance of the Sarbanes Oxley Act, the SEC created the Public Company Accounting Oversight Board ("PCAOB"), a private-sector non-profit corporation, to survey the compliance of the auditors with this legislation. |
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