Annual Report 2023
a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark
will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these Consolidated Financial Statements and Parent Company Financial
Statements.
As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we
exercise professional judgment and maintain professional skepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the Consolidated Financial Statements and the
Parent Company Financial Statements, whether due to fraud or error, design and perform audit procedures
responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for
our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the
override of internal control.
•
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Group’s and the Parent Company’s internal control.
•
•
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by Management.
Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing
the Consolidated Financial Statements and the Parent Company Financial Statements and, based on the audit
evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the Group’s and the Parent Company’s ability to continue as a going concern. If we
conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the
related disclosures in the Consolidated Financial Statements and the Parent Company Financial Statements or,
if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence
obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group
and the Company to cease to continue as a going concern.
•
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Evaluate the overall presentation, structure and contents of the Consolidated Financial Statements and the
Parent Company Financial Statements, including the disclosures, and whether the Consolidated Financial
Statements and the Parent Company Financial Statements represent the underlying transactions and events in
a manner that gives a true and fair view.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business
activities within the Group to express an opinion on the Consolidated Financial Statements. We are
responsible for the direction, supervision and performance of the group audit. We remain solely responsible
for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing
of the audit and significant audit findings, including any significant deficiencies in internal control that we identify
during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate them all relationships and other matters that may
reasonably thought to bear on our independence, and where applicable, actions taken to eliminate threats or
safeguards applied.
From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the Consolidated Financial Statements and the Parent Company Financial Statements of
the current period and are therefore the key audit matters. We describe these matters in our Independent Auditor’s
Report unless law or regulation precludes public disclosure about the matter or when, in extremely rare
circumstances, we determine that a matter should not be communicated in our Independent Auditor’s Report because
the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such
communication.
REPORT ON COMPLIANCE WITH THE ESEF REGULATION
As part of our audit of the Consolidated Financial Statements and Parent Company Financial Statements of CeMat A/S
we performed procedures to express an opinion on whether the annual report of CeMat A/S for the financial year 1
January to 31 December 2023 with the file name CEMAT-2023-12-31.zip is prepared, in all material respects, in
compliance with the Commission Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF
Regulation) which includes requirements related to the preparation of the annual report in XHTML format and iXBRL
tagging of the Consolidated Financial Statements including notes.
Management is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility
includes:
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The preparing of the annual report in XHTML format;
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