Note 2 - Critical estimates and assessment concerning the use of accounting principles

When it prepares the consolidated accounts the management team makes estimates, discretionary assessments and assumptions which influence the application of accounting principles. This accordingly affects recognised amounts for assets, liabilities, revenues and expenses. Last year’s annual accounts give a closer explanation of significant estimates and assumptions in Note 3 Critical estimates and assessments concerning the use of accounting principles.

Pensions

The Group has not obtained a new calculation of pensions as of 31 March since no factors have been identified that significantly alter the pension liability. For a further description of the various pension schemes, see note 24 in the 2016 annual report.

Control in BN Bolig

BN Bolig is owned 50% by BN Bank and 50% by EIendomsmegler 1, and was treated as a jointly controlled entity in the annual accounts for 2016. Due to a change in the shareholders agreement in 2017, it is now the parties' assessment that Eiendomsmegler 1 controls the company in accordance with IFRS 10, and BN Bolig has in first quarter been consolidated as a subsidiary of Eiendomsmegler 1.