New Wave Group AB Annual report 2017 EN | Page 42

AUDITOR POLICY DOCUMENTS At the AGM 2017, the audit firm Ernst & Young AB was appointed as auditor. Stefan Kylebäck is the head auditor and among his other public engagements we can mention Arcam AB and Golden Heights AB. Stefan Kylebäck owns no shares in New Wave Group. New Wave Group has a number of policies for the Group’s operations and its employees. The Group also has a number of recommendations which specify guidelines and supervision for the Group’s operations and its employees. Examples of policy content are as follows: AUDIT WORK The Group’s finance function works according to an instruction given by the Board which sets out frameworks for how the Group’s operations shall be financed and how, for example, currency risks and interest rate risks shall be dealt with. The Group applies International Financial Reporting Standards (IFRS ) when preparing the Group’s reports. The Group’s interim report for the third quarter is the subject of a general review by the company’s auditor. This review follows the recommenda- tions issued by FAR SRS , the organization for authorized public accountants. The audit of the annual report, consolidated financial statements, the accounting records and the administration of the Board and CEO is conducted in accordance with generally accepted auditing standards in Sweden. After the auditors’ review in October, the company’s auditors draw up an audit memo to the Board containing comments about indi- vidual companies and the Group as a whole. The auditors also present their observations from the audit, their appraisal of the companies’ internal control and the application of accounting policies at one of the autumn Board meetings. The Board receives information about internal control and compliance with rules, control of audited values, estimates, assessments and other matters that might influence the quality of the financial reports. It is the job of the Group’s auditor to audit the companies’ ability to comply with the overriding rules for internal control within the companies. The auditors also report their observations about internal control. ARTICLES OF ASSOCIATION The articles of association are adopted by the AGM and contain fundame ntal facts about the company, e.g. what kind of business the company will run, the size of the share capital, the number of shares issued, the size of the Board of Directors and the procedure for convening the AGM. The company’s articles of association state, among other things, that the Board of Directors shall consist of at least three and no more than seven members, that the Board has its registered office in Göteborg, and that a class A share shall carry ten votes and a class B she one vote. The complete articles of association are available at the New Wave Group website, www.nwg.se. 42 | NWG 2017 FINANCIAL POLICY IT POLICY The Group’s IT policy describes the Group’s principles for appli- cation and safety within IT. COMMUNICATION POLICY The Group’s communication policy is a document that describes the Group’s general principles for providing information. ENVIRONMENTAL POLICY The Group’s environmental policy sets out guidelines for the environmental work within the Group. ANTI-CORRUPTION POLICY The Group’s anti-corruption policy describes the Group’s prin- ciples for work against corruption.