Auditors
The auditors are elected by the General Meeting. According to the Articles of Association, the number of authorized public auditors must be one or two with a maximum of one or two deputy auditors or one or two auditing firms.
The accounting firm KPMG AB was elected by the General Meeting as the Company’s external auditors for the period from 2008 up to and including the Annual General Meeting in 2012. Thomas Thiel, authorized public accountant, serves as auditor in charge. The duties of the external auditors include auditing the management of the Board and President as well as the Company’s annual accounts and accounting records.
The external auditors report continuously to the Board’s Audit Committee and, in conjunction with preparation of the annual accounts, they also report their observations from the audit to the Board.
During 2010, in addition to auditing, KPMG AB provided consultancy services to the Group, primarily with regard to tax and transactional services in relation to the STG transaction, including due diligence reports. In addition, consulting services regarding general tax services, and testing of IT controls were provided.
Audit fees
Expenses for auditor’s fees are included in the administrative expenses as set out in the table below:
| KPMG |
2010 |
2009 |
| Audit |
13 |
14 |
| Audit related services |
1 |
0 |
| Tax services |
4 |
1 |
| Other services |
12 |
5 |
| Total |
30 |
21 |
Page updated Apr 4, 2011