In accordance with a decision of the board for fiscal year 2012, the audit committee consists of Thomas Thuresson, chairman, Petter Stillström and Lotta Stalin. The presentation of the board describes their independence of large shareholders, the company and its executive management. PartnerTech’s CEO and CFO participate in all Audit Committee meetings. The company’s external auditors participate in Audit Committee meetings that deal with the audit and with audit-related issues. The CFO serves as secretary of the meetings.
The tasks of the audit committee are described in writing. Its primary responsibility is to serve as a preparatory body between the board and auditors. The committee is to ensure relevant reporting, auditing and procedures for internal control while supporting the CEO and CFO in related areas.
The committee held five meetings in 2012. With the exception of Ms. Stalin's absence from one meeting, all members attended each meeting.