The Board of Directors has appointed an Audit Committee consisting of Lars Ingelmark (Chairman), Dharminder Chahal, Björn O. Nilsson and Niklas Prager (for the period following the AGM in 2017; before that Lars Ingelmark (Chairman), Martin Nicklasson, Björn O. Nilsson and Vincent Ossipow). The Audit Committee’s members have the requisite accounting expertise.
The Audit Committee, whose work is regulated in the instructions that serve as part of the rules of procedure for the Board of Directors, is tasked with preparing issues on behalf of the Board of Directors regarding procurement of audit services and remuneration, monitoring the auditors’ work and the Company’s internal control systems, monitoring the current risk scenario, monitoring external audits and the Company’s financial information, adopting the interim reports for quarters 1 and 3, preparing the interim report for quarters 2 and 4, as well as the Company’s Annual Report, monitoring issues pertaining to financing, and preparing the adoption and revision of financial policy and other issues that the Board of Directors entrusts to the Committee to prepare. The Audit Committee reports to the Board of Directors. The committee held three meetings in 2016.
The Board of Directors has appointed a Remuneration Committee consisting of Björn O. Nilsson (Chairman), An van Es-Johansson and Vincent Ossipow (for the period following the AGM in 2017; before that Björn O. Nilsson (Chairman), Leonard Kruimer and Birgitta Stymne Göransson). All directors are independent in relation to the Company and the senior executives. The work is regulated in the instructions that comprise part of the rules of procedure for the Board of Directors and include to consider and to resolve on issues pertaining to remuneration and benefits to senior executives. The work includes preparation of other remuneration issues of greater importance, such as incentive programs. Added to this are assignments to monitor and evaluate ongoing and completed programs for variable remuneration to senior executives, monitor and evaluate implementation of the guidelines for remuneration to senior executives applicable for the year, as well as applicable remuneration structures and levels within the Company. The Remuneration Committee reports to the Board of Directors. The committee held six meetings in 2016.