The Board annually appoints the chairman and members of the Audit Committee. The duties of the Audit Committee include monitoring the company's financial position, overseeing financial reporting, assessing the adequacy and appropriateness of internal control and risk management, assessing compliance with laws and regulations, and communicating with the auditor, reviewing the auditor's reports and evaluating the recommendations. The Audit Committee prepares the Board's proposal for the election of the auditor to the Annual General Meeting. The Audit Committee reports to the Board.
In 2022 Audit Committee reviewed business risks, balance sheet values, financing and liquidity, and the effect of business acquisitions on reporting. The management of internal audit measures focused on ensuring continuity and managing process and ICT risks.
Evaluation of the independence of the members of the Audit Committee
The members of the Audit Committee are independent of the company based on the evaluation made by the Board of Directors.
As of May 24, 2023, there will be no separate audit committee. The board discusses the matter in its meetings.