Accounts 2006

The annual accounts comprise the profit and loss statement, the balance sheet, the cash flow statement and the notes, and have been prepared in accordance with the Act relating to Innovation Norway, the Accounting Act and generally accepted accounting principles in Norway in effect as of 31 December 2006.

To make the accounts easier to read, the financial statements are presented in summarised form. The necessary specifications are shown in the notes. Consequently, the notes are an integral part of the annual accounts.

The accounting policies and format of the profit and loss statement and balance sheet primarily follow the regulation on annual accounts for banks and financing enterprises issued by the Financial Supervisory Authority of Norway.

Innovation Norway is not subject to taxation, but invoices with VAT for some of the services that are provided.