The external audit of the financial statements of the parent company and the Group, as well as management by the Board of Directors and President, is conducted in accordance with generally accepted auditing standards in Sweden. The company’s auditor-in-charge participates at all meetings of the Audit Committee. The auditor attends at least one board meeting per year at which he goes through the audit for the year and discusses the audit with the Directors, without the President being present.
For information regarding fees to the auditors, see Note 2 in the Annual Report for 2011.