Auditors

Since the 2010 fiscal year, Hemtex has had an Audit Committee. The Board of Directors is responsible for the audit, ensuring, in an efficient manner, that the Group has acceptable procedures for internal control and has correct, high-quality financial reporting. An authorized accounting firm serves as auditor of Hemtex AB.

The auditors are elected for a period of four years. At least once a year, the company’s auditors report on the extent to which the company has ensured that the accounting, administration and financial control are well-functioning. After the formal report has been presented, the President and Chief Financial Officer leave the Board meeting so that the Board members can have a dialogue with the auditors without the participation of the company’s senior executives.

At the AGM on September 2, 2009, the authorized accounting firm Ernst & Young AB was elected as auditors of Hemtex AB for the period extending until the close of the AGM to be held in 2013. Authorized Public Accountant Sven-Arne Gårdh from Ernst & Young’s office in Gothenburg was elected as Auditor-in-Charge.