The Audit Commitee is composed of three Board Members. The majority of the Audit Committee shall be independent of the Company, the CEO and the Auditor. The Members of the Audit Committee shall possess the knowledge and expertise needed to perform the tasks of the Audit Committee. At least one Member of the Audit Committee shall have solid knowledge and experience in the filed of financial statements or auditing.Members of the Audit Committee:
Further information on the Members of the Audit Committee can be found on the Board of Directors‘ page.
The Audit Committee is only acting as an advisor to the Board and has no authority to take any decision on behalf of the Board.
The Audit Committee shall operate in accordance with its Rules of Procedure. The principal duty of the Audit Committee is to ensure the quality of the Company‘s Consolidated Financial Statements and other financial information and the independence of the Company‘s Auditors.
The Audit Committee had four meetings in 2012.