The Audit Committee has the primary task of assisting the Board in its supervision and review of the internal and external audit pro- cesses, and reviewing and ensuring the quality of the company’s external financial reporting. Furthermore, the Audit Committee supervises the internal control functions of the company. When performing its work, the Audit Committee is guided by a written charter and instructions that the Board has determined, as well as the provisions contained in the Code.
The Board has delegated the following decision making powers to the Audit Committee:
- The right to establish procedures for accounting, internal control and auditing.
- The right to determine the procedure for receiving and managing complaints received by the company with regard to accounting, internal control or audit issues.
The results of the Audit Committee’s work in the form of observations, recommendations and proposed decisions and measures are reported regularly to the Board of Directors.