The Board of Directors is ultimately responsible for ensuring satisfactory control of risk management, reporting, financial accounting and similar issues as well as that the company's financial reports are produced in accordance with legislation and applicable accounting standards.
In order to support the execution of the Board’s supervisory role in audit issues, the Board has established an Audit Committee. This committee reports to the Board and its decision-making is restricted to specific areas.
The Audit Committee shall contribute to good financial reporting and ensure that the external audit of the company is efficient and independent and performed by suitably qualified professionals.
The Audit Committee shall, without prejudice to the Board’s responsibilities and tasks in general, monitor the company's financial reporting. With respect to the financial reporting, the effectiveness of the company’s internal control and risk management shall particularly be monitored. It is the responsibility of the Audit Committee to keep itself informed about the audit of the annual report and to review and monitor the impartiality and independence of the auditor. In doing so, special attention shall be paid to as to whether the auditor provides the company other services than auditing services. The Audit Committee shall also assist in the preparation of proposals to the Annual General Meeting regarding election of auditor and remuneration to the auditor.
The Audit Committee has three members: Kristina Schauman (chairman), Mikael Hellberg and Andrea Gisle Joosen.