The Board of Directors has formed an Audit and Risk Committee.
Members and duties
Benny D. Loft (Chairman), Dieter Wemmer and Peter Korsholm are the members of the Audit and Risk Committee. Between them, the members of our Audit and Risk Committee possess the relevant financial, accounting, audit and sector skills.
The committee assists the Board of Directors in overseeing the financial and non-financial reporting process, the capital structure development, financial and business-related risks, compliance with statutory and other requirements from public authorities and the internal controls.
Moreover, the committee approves the framework for the work of the company’s external and internal auditors, evaluates the external auditors’ independence and qualifications as well as monitoring the company’s whistleblower scheme.
You can download the terms of reference of the Audit and Risk Committee via the link above.
Special tasks in 2017
In 2017, the Audit and Risk Committee focused especially on the divestment of our upstream oil and gas business, IT/cyber security and our preparations for the implementation of the new General Data Protection Regulation in May 2018.
Number of meetings in 2017
Six meetings have been held in 2017 in the Audit and Risk Committee.