The Audit Committee is an annually appointed body within the Board.
At the statutory board meeting in March 2020 an audit committee was established, which is tasked with, among other things, monitoring the efficiency in internal control and the risk management system with respect to financial reporting, and – together with the Executive Committee and the auditors – monitoring and evaluating the handling of complex accounting and valuation matters. The Audit Committee is also tasked with monitoring the financial reporting as well as examination and evaluation of the external audit and the impartiality, independence, and performance of the auditor.
The Company’s auditors attend the Audit Committee’s meetings, whereby the committee is informed about the focus and scope of the audit and views of the Group’s risks. The Audit Committee’s assignment also includes setting guidelines for any other services than the audit that the Group may procure from the Company’s auditor as well as monitoring the Group’s work with internal control.
Since 18 March 2020 the Audit Committee’s members have been Christian Luiga (committee chair), Stina Andersson and Christer Åberg. Axfood’s President and CEO, Klas Balkow, and Axfood’s Chief Financial Officer, Anders Lexmon, are co-opted members of the Audit Committee, and Axfood’s Head of Group Accounting, Catarina Forsgren, is committee secretary. During the year the committee dealt with proposed revisions of the finance and credit policy and investment policy. In addition, the committee reviewed the Group’s work with risks and internal control. The Audit Committee held four meetings in 2020. The committee’s members were paid a fee in accordance with the AGM’s resolution for work on the Audit Committee.