Board committees

Sectra’s Board of Directors has established an Audit Committee and a Remuneration Committee. Please see the section Board of Directors for information about which Board members that are included in each committee.

Audit Committee

The Board has authorized the Audit Committee to assume responsibility for matters pertaining to the company’s and the Group’s internal and external accounting as well as the audit of the company’s and the Group’s financial statements. The main task of the Audit Committee is to support the Board in its work to ensure the quality of financial reporting. This includes the preparation of interim and annual reports for approval by the Board.

The work of the Audit Committee focuses on the quality and accuracy of the financial reporting, internal financial control, the Group’s compliance with prevailing regulations and, where applicable, transactions between the Group and related parties. In addition, the Audit Committee maintains regular contact and holds meetings with the company’s and the Group’s auditor in order to ensure an ongoing exchange of opinions and information between the Board and the auditor with respect to accounting issues, to assess the audit activities and to establish guidelines regarding the types of services, other than auditing services, for which the company may engage the auditor.

The company’s auditor and CFO regularly participate in Audit Committee meetings to provide and receive information about relevant issues noted during the audit and continuous reporting.

The Board passes resolutions on the proposals from the Audit Committee on all of the aforementioned matters.

Remuneration Committee

The Board has authorized the Remuneration Committee to assume responsibility for matters pertaining to the company’s and the Group’s bonus system and remuneration policy. The main task of the Remuneration Committee is to prepare proposals for resolution by the Board on matters pertaining to principles for remuneration and other terms of employment for the President and management and the guidelines for remuneration of senior executives that the Annual General Meeting (AGM) is legally obliged to establish.

The Remuneration Committee’s tasks also include:

  • preparing supporting documentation on certain matters of principle or other important matters pertaining to remuneration, such as incentive programs and profit-sharing systems.
  • monitoring and evaluating all programs for variable remuneration of company management.
  • monitoring and evaluating the application of the guidelines for remuneration of senior executives established by the AGM, as well as the current remuneration structures and levels in the company.

The Board passes resolutions on the proposals from the Audit Committee on all of the aforementioned matters.

 

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