The Audit Committee’s assignment is to maintain and enhance the efficiency of contact with the Group’s auditors and to conduct inspections of the procedures applied for accounting and financial reporting, as well as the internal audits within the Group. The Audit Committee’s work focuses on the quality and accuracy of the Group’s financial accounting and the accompanying reporting, as well as work on internal financial controls within the Company. In addition, the Audit Committee evaluates the auditors’ work, qualifications and independence. The Audit Committee monitors the development of the accounting principles and requirements, discusses other significant issues connected with the Company’s financial reporting and reports its observations to the Board.
The Audit Committee shall meet four times annually and, as far as possible, the meetings shall follow the schedule for Kinnevik's publication of financial reports. The Commitee shall also meet as the need arises. Minutes are kept at the Audit Commitee's meetings and are reported to the Board at the next meeting.