Within the Board are Audit and Remuneration committees.
The Audit Committee consists of two board members and is instructed to review all of the financial reports submitted to the Board by Group management and to submit recommendations regarding their adoption. The Audit Committee’s work also includes a strong emphasis on risk management in connection with cash processing and promoting risk awareness throughout the Group. The Committee’s work is governed by instructions and an appendix to the Board’s Work Procedures stipulating, among other things, the Committee’s purpose, responsibility, decisions it is authorized to make, composition and reporting responsibilities.
The Audit Committee is an independent body with the primary duties to:
- monitor the Company’s financial reporting,
- monitor reporting procedures and issues relating to risk and insurance,
- monitor issues relating to internal control and corporate governance,
- monitor audit and accounting issues, and
- monitor the independence of the auditors.
Members of the Audit committee are Cecilia Daun Wennborg and Ingrid Bonde.
The Remuneration Committee is tasked with addressing all issues relating to salaries, variable salary components, warrants, pension benefits and other forms of compensation for Group management and, if the Board so decides, other levels of management as well. The Remuneration Committee is also tasked with monitoring and evaluating variable remuneration programs that are ongoing or were concluded during the year for senior executives, and monitoring and evaluating the application of the guidelines for remuneration of Group management which, by law, are to be determined by the Annual General Meeting, as well as current compensation structures and compensation levels within the Company.
Members of the Remuneration Committee are Alf Göransson and Jan Svensson.