Auditor

The Board of Directors will resolve and approve guidelines for the Company’s auditor and persons associated to the auditor performing non-auditing work as set out in the procedure for the Board of Directors .

The Board of Directors is responsible for proposing to the general meeting the appointment, termination, and replacement, compensation, and the oversight of the work of the independent auditor(s), including resolution of disagreements between management and the auditor regarding financial reporting.

At least annually, the Board of Directors shall obtain and review a report by the independent auditor(s) describing:

  • The Company’s internal quality control procedures.
  • Any material issues raised by the most recent internal quality control review of the firm, or by any inquiry or investigation by governmental or professional authorities.
  • All relationships between the independent auditor(s) and the Company (to assess the auditor(s)’ independence).

The Board of Directors shall discuss with the independent auditors the overall scope and plans for their respective audits.

The Board of Directors shall provide sufficient opportunity for the independent auditors to meet privately with the members of the Board.

Note
In an Extraordinary General Meeting, EY was elected as the company's auditor on July 22 2014.