The Company’s auditor was elected by the 2012 Annual General Meeting for a period of four years. KPMG was elected as CDON Group’s auditor and has been the external auditor since 1997. Cronie Wallquist, authorised public accountant, is responsible for the audit of the Company on behalf of KPMG.
The auditors report their findings to the shareholders by means of the auditors’ report, which is presented to the Annual General Meeting. In addition, the auditors report detailed findings at each of the ordinary meetings of the Audit Committee and to the full Board once a year.
KPMG provided certain additional services for the years 2010 and 2011. These services comprised advice on the preparation and implementation of internal control testing and reporting procedures, and other assignments of a similar kind and closely related to the auditing process.
Audit assignments have involved the examination of the annual report and financial accounting, the administration by the Board and the CEO, other tasks related to the duties of a company auditor and consultation or other services which may result from observations noted during such examination or the implementation of such other tasks.