The auditors are elected by the Annual General Meeting (AGM) for a term of between one and four years. 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 duties of the external auditors include auditing the management of the Board and the 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.
The Annual General Meeting of Swedish Match AB (publ) on May 4, 2016, elected Deloitte AB as auditor until the end of the Annual General Meeting 2019. The accounting firm KPMG AB was auditor for the period from 2016 up to and including the Annual General Meeting in 2017.
During 2016, in addition to auditing, KPMG AB provided consultancy services to the Group, primarily with regard to tax advice and testing of IT controls.
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