The Audit Committee's main task is to secure compliance with established principles for financial reporting and internal control. The Audit Committee also monitors the company’s ongoing risk management, adopts supplementary instructions for the auditors for the audit operation, and monitors that laws, regulations, listing agreements and the Swedish Code of Corporate Governance are complied with. The Audit Committee also ensures that other assignments, in addition to auditing, performed by the company’s auditors come within the framework of established policy.
Over the course of the year, the Audit Committee also followed up on operational control of commissioned work and the instructions that apply from preparing quotes up to complete delivery within an assignment.
In addition, the Audit Committee monitors changes to audit rules that may have an effect on the company’s financial reporting and the external financial information it issues, while also evaluating the need for an internal audit function on a yearly basis.
In the current situation, it is deemed that the company's size and complexity do not justify a separate auditing unit; instead the finance function manages the ongoing control and pursues improvement projects for financial control and inspection. Internally, auditing focuses on assignment performance, performance monitoring and any need to change routines.