The company has at least one, and at most three, public accountants authorized by the Central Chamber of Commerce, at least one being an auditing firm. The auditors are elected by the Annual General Meeting to audit the accounts for the ongoing financial year and their duties cease at the close of the subsequent Annual General Meeting. The auditors are responsible for auditing the consolidated and parent company’s financial statements and accounting records, and the administration of the parent company.
On closing of the annual accounts, the external auditors submit the statutory auditor’s report to the company’s shareholders, and they also regularly report their findings to the Board of Directors’ Audit Committee. An auditor, in addition to fulfilling general competency requirements, must also comply with certain legal impartiality requirements guaranteeing the execution of an independent and reliable audit.
