On 18 November 2016, the Company’s board of directors established an audit committee, which shall comprise of at least two members, of whom one shall be chairman. The committee is responsible for inter alia monitoring of the Company’s financial reporting and the preparation of the board of directors’ work in respect of quality control of this reporting, monitoring the Company’s internal control, internal audit and risk management as regards the financial reporting, as well as establishing guidelines for the procurement of supplementary services from the Company’s auditor.
The committee, or the nomination committee, as appropriate, shall also assist in preparing proposals regarding decisions on the election of auditor and the fees to be paid for auditing services and meet the Company’s auditor on an ongoing basis. Minutes shall be kept at all meetings of the audit committee and the minutes shall be presented to the board of directors, together with an oral debriefing, in connection with decisions made by the board of directors. The audit committee comprises of Fredrik Buch (chairman) and Philip Siberg.