The board

Evaluation of the Board's Work 

The evaluation of the board is overseen by the chairmanship. 

The chairmanship annually proposes the evaluation procedure to the board, which discusses and decides on it prior to the evaluation. 

Evaluation Procedure 

• The chair sends out a questionnaire to all board members, focusing on: 

• The organization of the board’s work and the quality of background material. 

• Cooperation within the board and between the board and the management. 

• Board members' preparation for and active participation in board meetings. 

• The board’s and individual members' contributions and results. 

• The chairman's leadership of the board. 

• The responses can form the basis for further discussions between the chair and the board members. 

• Reporting of participation in board and committee meetings is part of the evaluation and is included in the evaluation. 

• The chair compiles the incoming results and comments for discussion by the entire board under the chair's leadership of the meeting. 

• External assistance is typically engaged every third year. When the board involves external assistance, interviews are conducted with individual board and management members. 

• The board chair submits the conclusions of the evaluation annually to the owners. 

Audit Committee’s Key Activities 

The tasks of the Audit Committee are as follows: 

• Inform the board of the outcome of the mandatory audit, including the financial reporting process. 

• Monitor the financial reporting process. 

• Monitor whether the company’s internal control system, internal audit, and risk management systems are functioning effectively. 

• Monitor the mandatory audit of the annual financial statements and annual report. 

• Check and monitor the independence of the auditor and/or audit firm, particularly regarding the provision of non-audit services. 

• Monitor the qualifications and performance of the independent auditor.