Audit & Risk Committee

The Board of Directors has formed an Audit & Risk Committee.

Dieter Wemmer (Chairman), Jørgen Kildahl and Peter Korsholm are the members of the Audit & Risk Committee.

Between them, the members of our Audit & Risk Committee possess the relevant financial, accounting, audit and sector skills. All members are independent.

The committee assists the Board of Directors in overseeing the financial and non-financial reporting process, the liquidity and capital structure development, financial and business-related risks, compliance with statutory and other requirements from public authorities, the internal controls, and IT security in operational and administrative areas as well as cyber security.

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 monitors the company’s whistleblower scheme.

In 2019, the Audit & Risk Committee focused especially on the performance of an external audit tender, the review of the implementation of IFRS 16 ‘Leases’, the new reporting on scope 3 greenhouse gas emissions and the implementation of a US trading floor.

Six meetings have been held in 2019 in the Audit & Risk Committee.

You can download the terms of reference of the Audit & Risk Committee via the link above.
 

General meetings

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