Audit Committee

The Board’s Audit Committee supports the Board in its work on quality-assuring the company’s financial reporting and its internal control over financial reporting.

The Committee stays in regular contact with the company’s auditor, to obtain information about the direction and scope of the audit, and to discuss opinions on the company’s risks, The Committee also discusses the year-end financial statement and interim reports as well as audit reports and amendments to accounting rules. The Committee monitors that any notes or comments from the auditor are addressed. It also sets guidelines for which other services than audits may be purchased from the company’s auditor, evaluates the audit work and informs the company’s Nominating Committee of the results of the evaluation, and assists the Nominating Committee in preparing proposals for election of an auditor and remuneration of audit work.