Audit committee

The committee currently comprises of Tove Raanesas as chair person,  Hanne Rønneberg as director, Tore Sjursen as director and Torben Wedervang as director.

The shareholder-elected directors, Tove Raanes and Tore Sjursen, are independent of the company’s management, main shareholders and material business contacts. The same is valid for the employee representative director Torben Wedervang, other than his employment contract.

Pursuant to Section 6-43 of the Norwegian Public Limited Liability Companies Act, the audit committee shall;

- prepare the Board of Directors’ supervision of the Company’s financial reporting process,

- monitor the systems for internal control and risk management,

- have continuous contact with the Company’s auditor regarding the audit of the annual accounts,

- prepare the Company’s election of external auditor in accordance with the Audiotors Act §12-1, and

- review and monitor the independence of the Company’s auditor, including in particular the extent to which services other than auditing provided by the auditor or the audit firm represent a threat to the independence of the auditor.