The tasks of the Audit Committee include monitoring Arjo’s financial reporting, the efficiency of its internal controls, internal audit, and risk management and keeps itself informed on the audit of the annual report and the consolidated financial statements, reviews and monitors the impartiality and independence of the auditor and thereby pay special attention to whether the auditor provides services other than auditing services to Arjo.
The Audit Committee continuously meets with the auditor to discuss the coordination of the internal control and the external audit.
The Audit Committee shall also assist the Nomination Committee with the preparation of its proposal to the Annual General Meeting regarding the appointment of auditor by, among other things, ensuring that the auditors term of office does not exceed what is allowed in accordance with applicable regulations, procuring an auditor (when applicable) and submitting a recommendation
regarding the appointment of auditor to the Nomination Committee. In addition, the Committee submits information to the Board concerning the results of the audit, including how the audit contributed to the reliability of the Company’s financial reporting, and so forth in order to fulfill the requirements set out in the EU Audit Regulation and Directive. The Audit Committee shall also set guidelines for the procurement of services other than auditing services from the Company’s auditor and, when applicable, approve such services. Lastly, the Audit Committee evaluates the audit effort and informs the Nomination Committee of the results of the evaluation.
The Audit Committee consists of Ulf Grunander (Chairman), Eva Elmstedt, and Carola Lemne.
The committee complies with the Swedish Companies Act’s requirements for independence as well as accounting and audit competence.