Audit Committee

The Audit Committee comprises of Susanne Pahlén Åklundh (Chairman), Victoria Van Camp and Lena Olving.

The duties of the Audit Committee include continuous monitoring and quality assurance of ASSA ABLOY’s financial reporting and sustainability reporting. Regular communication is maintained with the company’s external auditor, including on the focus and scope of the audit and the review of the sustainability statement. The Audit Committee must inform the Board of the results of the audit and the review of the sustainability statement. The Audit Committee is also responsible for evaluating the audit assignment and obtaining the results of the Swedish Inspectorate of Auditors’ quality control of the auditor, as well as informing the Board of Directors of the results of the evaluation. The Audit Committee also has the task of supporting the Nomination Committee in providing a proposal for the appointment of external auditor.

Furthermore, the Audit Committee shall review and monitor the impartiality and independence of the auditor, paying particular attention to whether the auditor provides the company with services other than auditing services and reviews of sustainability reports. The Audit Committee establishes guidelines for procurement of services other than audit services from ASSA ABLOY’s auditors and, if applicable, it approves such services according to these guidelines, and establishes guidelines for the appointment of new local audit firms. Otherwise, the Committee has no decision-making powers. Audit Committee meetings are minuted; a copy of the minutes is enclosed with the materials provided to the Board and a verbal report is given at Board meetings.