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 ESG reporting process (including key accounting estimates and judgements), the liquidity and capital structure development, financial and business-related risks, compliance with statutory and other requirements from public authorities, internal controls as well as IT security in operational and administrative areas as well as cybersecurity.

Moreover, the committee approves the framework governing the work of the company’s external and internal auditors (including limits for non-audit services), evaluates the external auditors’ independence and qualifications, and monitors the company’s whistle-blower scheme.

In 2020, the committee approved an update of the internal control and WACC frameworks. The committee also reviewed the financial impact of COVID-19 and the divestments of our Danish power distribution, residential customer, and city light businesses, and our LNG activities. Furthermore, it assessed the claim made by the Danish Tax Agency requiring Danish taxation of our British offshore wind farms Walney Extension and Hornsea 1, and it reviewed the progress in IT security. 

Eight meetings have been held in 2020 in the Audit & Risk Committee.

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

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