Board of directors

Audit Committee

Members of the Audit Committee are Fredrik Arp (chair), Håkan Erixon, Tomas Kåberger, Jenny Lahrin, Fredrik Rystedt and Rolf Ohlsson (employee representative).

The Audit Committee is responsible for meeting with Vattenfall AB’s external and internal auditors on a regular basis in order to stay informed about the planning, focus and scope of the company’s audit. The Audit Committee is also responsible for discussing coordination of the external and internal audit work and views of the company’s financial risks.

The Audit Committee has the right to approve, on behalf of the Board, the guidelines for the services other than auditing that Vattenfall may procure from the Group’s auditors, as well as to decide on procurement of such services in specific cases based on the guidelines.

The Audit Committee meets prior to Vattenfall’s publication of interim reports and when warranted by the prevailing conditions. The CFO and the Head of Internal Audit serve in a reporting role. The company’s external auditors attend all regular meetings and report on their observations of the audit.

The Audit Committee’s most important duties are:

  • to oversee Vattenfall’s financial reporting, including sustainability reporting
  • with respect to financial reporting, to monitor the effectiveness of Vattenfall's internal control, internal audit and risk management
  • to stay informed about the audit of the annual report and consolidated accounts as well as about the conclusions of the Supervisory Board of Public Accountants’ (“Revisorsnämnden”) quality control of auditing activities performed by the company’s auditor
  • to review and monitor the auditor's impartiality and independence
  • to assist in the drafting of recommendations for decisions on the election of auditor by the Annual General Meeting
  • to review and oversee the management of market and credit risks
  • to conduct an annual evaluation of the external auditors' work.

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