BWG Homes has used KPMG as its auditor in 2009. The auditor’s primary duty is to perform the auditing mandated by the law and professional standards with the accuracy, competence and integrity prescribed by the law and professional standards.
The Board of Directors’ relationship to the auditor
Special instructions have been adopted for the Board of Directors’ relationship to the auditor. The instructions include guidelines for the company’s access to make use of the auditor for other services than auditing. The auditor shall meet with the Board of Directors at least once a year without the management being present. The auditor shall once a year present a letter of confirmation of the established requirements on independence. The auditor shall participate at Board meetings that discuss the annual accounts. The auditor is entitled to be present at General Meetings.
The auditor shall present the main elements of the plan for performing the auditing work to the Board of Directors every year. The auditor shall review any material changes to the BWG Homes’ accounting principles, evaluations of significant accounting estimates and any material matters where there may have been disagreement between the auditor and the management.
The auditor shall review the BWG Homes’ internal control with the Board of Directors, including identifiable weaknesses and improvement proposals, at least once a year.
The Board of Directors will inform about the auditor’s fees broken down into auditing and other services at the Annual General Meeting.