Magnus Sundström (chairman), Björn Garat and Patrik Wahlén are members of the Committee. The Audit Committee has both an advisory and preparatory function for decision matters prior to review and decision by Volati´s Board.
The main duties of the Audit Committee are as follow:
monitor the financial reporting and submit recommendations and proposals to secure the accuracy of the reports
with regard to the financial reporting, monitor the efficiency of the company's internal control, internal audit and risk management
keep itself informed about the audit of the annual accounts and consolidated financial statements and the Supervisory Board of Public Accountants' quality control
Inform the board of the results of the audit and on how the audit contributed to the reliability of the financial reporting and the function of the committee
review and monitor the auditor's impartiality and independence and thereby give particular attention as to whether the auditor provides the company with other services than audit services
grant approval for assignments to audit firms that are auditors for the company for services outside the audit assignment amounting to more than SEK 100,000
assist with preparation of a proposal for a general meeting resolution on election of auditors, and
prepare the Board´s decision on the above issues.
The Audit Committee provides continuous oral reports to the Board and submits proposals on issues that require a Board decision. Minutes are made available to all members of the Board. The Chairman of the Committee maintains regular contact with the company's auditor.