The Board is ultimately responsible for ensuring that satisfactory controls are in place for risk management, accounting, financial reporting and similar issues. To support the Board in its supervisory role, an audit committee was established in 2004. This committee is a part of the Board.
The audit committee’s role is to contribute to a good standard of financial reporting and ensure that efficient and independent audits of the company are performed by qualified external auditors. Further, the committee shall monitor the accounting policies, risk management and the internal control of the Company. Finally, the committee shall organise the election of the auditors and determination of their fees.
The audit committee consists of four members: Per Lundberg (chair), Kurt Lindvall, Ingvar Petersson, and Meg Tivéus. All members except one are independent of the Company. Kurt Lindvall is a Billerud employee and thus not independent of the Company. The secretary of the audit committee is Wilhelm Lüning, of the legal firm Advokatfirman Cederquist.
Work instructions for the Audit committee