The board has decided that the board shall fulfil both the tasks of the audit committee and the remuneration committee as it is considered most appropriate at present. The tasks of the audit committee and the remuneration committee are set out in instructions attached to the board’s rules of procedure and are approved annually by the board.
The work of the audit committee includes, inter alia, monitoring the Company’s financial reporting and the efficiency of the Company’s internal control and risk management. The audit committee must also keep itself informed of the audit of the annual report, and review and monitor the independence and impartiality of the auditors and specifically follow up on whether the auditor provides the Company with services other than audit services.
The tasks of the remuneration committee include, inter alia, proposing guidelines for remuneration to the CEO and other executives of the Company’s management, proposing a report on paid and outstanding remuneration covered by the guidelines and following and evaluating the application of the guidelines for remuneration to senior executives as well as applicable remuneration structures and remuneration levels in the Company.