The board of directors has established an audit committee. The audit committee shall be comprised of at least three members, of which at least one shall have accounting or auditing competence. The audit committee currently comprises three members of the board of directors: Göran Blomberg, Chairman of the audit committee, Theodore Bergquist and Marcus Lindqvist.
It is the responsibility of the audit committee to fulfil, among other things, following tasks:
- Monitor the company’s financial reporting and give recommendations and proposals to ensure the reliability of the reporting;
- As regards the financial reporting, annually monitor the risks and the risk management, including monitoring the efficiency of the company’s internal control and evaluate the routines for bookkeeping and accounting in order to enable reliable financial reporting;
- Keep itself informed about the audit of the annual report and consolidated annual report and the Supervisory Board of Public Accountants’ conclusions and maintain a continuous contact with the company’s financial department in order to facilitate the audit work;
- Inform the board of directors of the outcome of the audit and explain how the audit contributed to the reliability of the financial reporting and which role the committee had in that process;
- Identify and evaluate the risks in operations and examine that the management handle these;
- Review and monitor the impartiality and independence of the auditor and in particular notice if the auditor provides other services than auditing services for the company; and
- Assist in the preparation of proposals for resolutions by the general meeting regarding election of auditors.
The audit committee shall, according to their instruction, meet at least five times a year. The chairman of the audit committee may convene to additional meetings if necessary.