Since First North Premier is not a regulated market there are no legal obligations to establish an audit committee. However, the board of directors of the Company decided to establish an audit committee consisting of the board members which are independent of the Company.
The audit committee’s remit is to prepare the board of directors’ work to assure the quality of the company’s financial reporting. The committee is also tasked with delivering its evaluation of the audit process to the nominating committee in connection with drafting the nominating committee’s proposals to the AGM regarding the appointment of auditors and the amount of audit fees. The members of the audit committee are: Jonas Eriksson (Chairman of the board) and Andras Vajlok (board member).