Audit committee

According to the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)), the audit committee is to comprise of at least two members. The members of the committee may not be employed by the company, and at least one member shall have accounting or auditing competence.

The audit committee currently has three members; Jonas Wikström (chairman), Bo Andersson and Per Berggren. The members of the committee and its chairman are appointed by the board of director annually.

The audit committee’s functions are to:

  • Review and monitor financial reporting and provide recommendations and proposals to ensure the reliability of the reporting.
  • In respect of the financial reporting, monitor the efficiency of the company’s internal controls and risk management.
  • Keep itself informed regarding the audit of the annual report and group accounts as well as regarding the conclusions of the Supervisory Board of Public Accountants quality controls (Sw. Revisorsnämnden).
  • Inform the board of directors of the result of the audit and the way in which the audit contributed to the reliability of the financial reporting, as well as the function filled by the committee.
  • Review and monitor the impartiality and independence of the auditor and, in conjunction therewith, pay special attention to whether the auditor provides the company with services other than auditing services.
  • Assist in conjunction with preparation of proposals to the general meeting’s resolution regarding election of an auditor.

The audit committee shall convene at least four times a year.