The Board’s Audit Committee is appointed by Kitron ASA’s Board of Directors and is a sub-committee of the Board. The Audit Committee will on behalf of the board supervise the financial reporting process to ensure the integrity of the financial statements. The Audit Committee will also go through: the company’s internal supervisory/control routines and risk management system, the external audit process including a recommendation in the choice of an external auditor, the company’s routines regarding compliance with laws and regulations affecting the financial reporting and the company’s code of conduct.
The role of the Audit Committee is to prepare matters for consideration by the Board, to support the Board in its supervisory responsibilities and to ensure that the requirements made of the company in connection with its listing on the stock exchange are complied with.
The committee consists of two shareholder-elected board members and one employee-elected board member. The independent auditor usually attends the meetings. During 2017 there were six audit committee meetings.
Instruction for the Audit Committee
Presentation of the Audit Committee:
- Espen Gundersen, voted Chair of the Audit Committee and elected until the Annual General Meeting in 2019
- Elisabeth Jacobsen, elected until the Annual General Meeting in 2019
- Due to changes to the board after Annual General Meeting 2018, the board will constiute the third member at the next board meeting.