To safeguard the interests of shareholders and the general public, an independent auditor is appointed at the Annual General Meeting following a recommendation from the Board of Directors. Before making its recommendation, the Board of Directors undertakes a critical evaluation of the auditor’s independence, competence etc.
The auditor submits a report to the assembled Board of Directors twice a year and also immediately after identifying any issues of which the Board of Directors should be informed.
An Internal Audit function was set up in 2006 to support management’s day-to-day control work.