Audit committee

The committee consists of Tove Raanes (chair), Tore Sjursen, Hanne Rønneberg and Torben Wedervang.

The shareholder-elected directors (Tove Raanes, Hanne Rønneberg and Tore Sjursen) are independent of the company’s executive management, main shareholders and significant business associates. The same is valid for the employee-elected director, Torben Wedervang, except for his employment contract.

The board of directors has adopted detailed separate instructions outlining the audit committee duties and procedures. These instructions cover detailed authority and duties set for the committee, including some of the following responsibilities and duties: 

• Support for sustainability and financial reporting: assisting the board with sustainability and financial reporting and assessing related risks and controls.
   
• Monitoring of the sustainability reporting process: ensuring the integrity of the sustainability reporting process.
   
• Dialogue with responsible auditor and audit execution: engaging in ongoing dialogue with the company's responsible auditor and monitoring the audit execution. Furthermore, responsible for preparing the group's election of auditor.
   
• Review of auditors' independence and non-audit services: reviewing and monitoring the independence of statutory auditors and the appropriateness of non-audit services.
   
• Monitoring and evaluation of internal controls: evaluating the company's internal control, internal audit, and risk management systems.
   
• Compliance and whistleblowing procedures: reviewing processes for handling complaints and whistleblowing procedures.