The Company’s auditor shall be elected by the shareholders at the general meeting.
The auditor shall submit the main features of the plan for the audit of the Company to the Board annually.
The auditor shall participate in board meetings that deal with the annual accounts. At these meetings the auditor shall review any significant changes in the Company’s accounting principles, assess any important accounting estimates and matters of importance on which there has been disagreement between the auditor and the management.
The auditor shall at least once a year present to the Board a review of the Company’s internal control procedures, including identifying weaknesses and proposed improvements.
The Board shall hold a meeting with the auditor at least once a year at which neither the CEO nor any other representative of the management is present.
The Board shall specify guidelines for the right of the management to use the auditor for purposes other than auditing. The Board shall provide recommendations to the general meeting for the election, removal and payment of auditors.
The Board must inform the shareholders at the AGM of the remuneration paid to the auditor, including details of the fee paid for auditing work and any fees paid for other specific assignments.