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Auditing

An external auditor is chosen by the General Assembly. He makes reports to the Board of Commissioners and the Board of Directors based on his own investigations and publishes the findings of his research regarding the accuracy of the annual accounts in a statement. On behalf of the Board of Commissioners, the Audit Committee is directly responsible for the supervision of the external accountants work.


External accountant

At least once a year the Audit Committee, together with the Board of Commissioners, reports to the Board of Directors regarding the developments surrounding the external accountant, particularly with regards to his impartiality (including the desirability of rotation of responsible partners within the external accountant's office and the desirability that the external accountant responsible for the monitoring activities also carries out non-monitoring activities for the organisation). Once per year the Audit Committee discusses the thorough assessment of the external accountant made by the Board of Directors. The resultant conclusions are forwarded to the General Assembly and the Board of Commissioners. The external accountant is present at the portion of the meetings of the Board of Commissioners in which the external accountants report on the accuracy of the annual accounts is discussed and during which the approval of the annual accounts is discussed. In addition, he attends the portion of the meetings during which half-year figures are discussed.

NS Audit

Internal auditors carry out their work under the responsibility of the Board of Commissioners. The results of their activities are discussed by the Audit Committee. The Board of Directors ensures that the Audit Committee and the external accountant are involved in the drafting of the work schedule for the internal auditors.