Audit committee
The current audit committee, comprises two members: Lone Møller Olsen (chairman), and John Dueholm. The audit committee is primarily a preparatory body that prepares proposals for the board. The work of the audit committee is conducted in accordance with the rules of procedure adopted by the board. Its primary tasks, without prejudice to the general duties and responsibilities of the board, are to:
- monitor the Company’s financial reporting;
- with regard to the financial reporting, monitor the efficiency of the Company’s internal control and risk management;
- remain informed about the audit of the annual report and consolidated accounts;
- inform the board of the results of the audit and of the manner in which the audit contributed to the reliability of financial reporting as well as the functions the committee has had;
- review and monitor the auditor’s impartiality and independence, thereby noting in particular whether the auditor provides the Company with services other than audit services;
- approve the auditor’s advisory services and adopt a policy for the auditor’s advisory services;
- assist in the preparation of proposals regarding auditors for resolution at general meetings;
- evaluate on an annual basis the need for an internal audit function; and
- quality assure the year-end reports and interim reports prior to decisions by the board.