Audit committee

The board of directors of Scandi Standard has established an audit committee that consists of the following board members:

• Pia Gideon (Chairman)
• Öystein Engebretsen
• Cecilia Lannebo

Audit Committee The main tasks of the Audit Committee are to monitor Scandi Standard’s financial reporting and to make recommendations and suggestions in order to secure the reliability of the reporting. The tasks also include to monitor the effectiveness of the Group’s internal control, internal audit and risk management in general for the business activities, and specifically in relation to the financial reporting. In addition, the task includes keeping itself informed regarding the external audit of the annual report for the company and the Group, as well as of the results of the Swedish Inspectorate of Auditors’ quality control. As part of this, the Audit Committee shall inform the Board of the results of the external audit and in what way the external audit has contributed to the reliability of financial reporting as well as of the role of the Audit Committee. The Audit Committee’s tasks also involve to review and monitor the impartiality and independence of the external auditor and in particular pay attention to whether the external auditor has pro- vided other services than auditing, and to assist in preparation of the proposal to the General Meeting regarding election of the external auditor. The Audit Committee of Scandi Standard shall comprise no fewer than two Board members. The members of the Audit Committee must not be employed by the company or its subsidiary. At least one of the members must have accounting or auditing proficiency. The members of the Audit Committee must be independent in relation to the company and the management and at least one of the members must be independent in relation to the company’s major shareholders.