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Corporate governance

Auditor

The company’s auditor – PricewaterhouseCoopers AS (PwC) – attends all Board Audit Committee meetings and is always present when the annual accounts are approved.

To ensure that the board has solid understanding of the accounts and any changes in the accounting principles, the auditor discusses changes in IFRS relevant for the company’s accounting principles or other law requirements relevant for the company with the board. The auditor also runs through the main issues related to the audits carried out. There were no disagreements between the management and PwC during 2017.

It is of importance to the board that the auditor is independent of management. The board therefore has at least one meeting with PwC without senior management being present. If used for other services than accounting, the parties will follow guidelines as described in the Auditing and Auditors’ Act. The auditor provides the board with a confirmation of independence in relation to non-audit services provided.

In 2017, PwC has audited accounts, notes, the director’s report and read through and commented on the board’s report on corporate governance and the company’s sustainability report.

For the financial year 2017, Bjørn Lund has been the company’s engagement partner from PwC.

Deviations from the code: None