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According to the Swedish Companies Act, the members of the Audit Committee may not be employees of the company and at least one member of the Audit Committee shall be independent of the company, the company management and the company's largest shareholders.
The Audit Committee monitors the financial reporting and the effectiveness of the company's internal controls. They evaluate the external auditor and assist the Nomination Committee with proposals regarding choice of auditor. The Board of Directors appoints an Audit Committee consisting of two Board members. At least one member of the Audit Committee has competence within accounting and auditing.
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