The Audit Committee works in accordance with guidelines and instructions for the Audit Committee, which have been adopted by the Board. The Audit Committee is responsible for ensuring that the entire Board of Directors is kept regularly informed as to the work of the Audit Committee and, where necessary, shall submit matters to the Board for approval.
The main duties of the Audit Committee are to support the Board of Directors in the work of monitoring the quality of the financial reporting, risk management and auditor review and to ensure that established accounting principles are applied in a correct manner. The Audit Committee regularly meets Elekta’s auditors, evaluates the audit work and approves the additional services that Elekta may procure from the external auditors.
The Audit Committee’s members were Hans Barella (chairman), Birgitta Stymne Göransson and Jan Secher. President and CEO Tomas Puusepp* and CFO Håkan Bergström is present at the Committee meetings.
During the 2012/13 fiscal year, the Audit Committee held four meetings. Minutes were taken at every meeting. The more important matters dealt with by the Audit Committee during the fiscal year included:
- Monitoring of compliance and review of plans and measures for compliance
- Risk Management and prioritization of resources to ensure proper risk management
- Proposals for the establishment of an Internal audit function
- Evaluation of reports from external auditors
- Analysis of balance sheet and income statement, monitoring and review of performance indicators
- Review of principles for revenue recognition
- Review and evaluation of auditor’s impartiality and independence
- Adoption of internal control processes
* Replaced by Niklas Savander from May 1, 2014.