Annual cycle of the Board of Directors
• CEO update and financial update • Business plan • Budget • Preliminary results and business update • Decision on quarterly report • Policies - updates and compliance • Board and CEO valuation • CEO update and financial update • Internal control and risk assessment • Decision on quarterly report • Strategy meeting
• CEO update and financial update • Inaugural Board meeting • The Board’s Rules of Procedure, CEO instruction and other governing documents • Financial reporting and business update • Decision on quarterly report • CEO update and financial update • Annual report and financial statements • Notice of Annual General Meeting • Guidelines for compensation and other terms of employment for senior executives • Decision on quarterly report • Review of risks in Q1 nance and control. The Audit Committee recei - ves regular feedback on its work. The Board has assessed that this form of long-term and focused work in the area of internal gover- nance and control is the most appropriate way to address the issue. The decision is reviewed annually. For specifications of auditors’ remu - neration, see Note G7 for the Group. Board of directors The Board of Directors has the ultimate responsibility for the company’s organisation and the administration of the Company’s affairs. The Board’s duties include
Q4
Q1
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Auditor
financial statements, the Board annually recei - ves a presentation from the auditors without the Company’s management being present. Each year, the auditors align their audit plan and risk assessment with the Audit Commit- tee. The independence of the auditors in rela - tion to the Company is ensured by legislation as well as by the audit firm’s internal guidelines, and the Audit Committee’s review of the enga- gements that the audit firm may undertake in addition to the audit engagement. Hemnet does not have an internal audit fun- ction, but management has organised proces- ses and dedicated resources to actively work with and develop the area of internal gover-
In accordance with its Articles of Association, Hemnet must have one or two auditors, and no more than two alternate auditors. A regis - tered accounting firm may be appointed as Hemnet’s auditor. The auditor is appointed by the AGM for a mandate period of one year. At the AGM 2022, Ernst & Young AB was re- elected as auditor with the Authorised Public Accountant Anna Svanberg as lead auditor for the period until the end of the 2023 AGM. Ernst & Young AB has been Hemnet’s auditor since 2016 and Anna Svanberg has been the auditor in charge since 2019. In conjunction with the
Audit Committee responsibilities
The Committee’s work in 2022 has covered issues such as:
• Analysis of the completeness and accuracy of the respective interim report, year-end report and annual report. • Review of Hemnet’s risks and internal controls, and their effectiveness, with a particular focus on financial reporting and cybersecurity. • Review and follow-up of the auditor’s reporting on audits. • Accounting and valuation policies have been evaluated, including estimates related to the value of the Group’s intangible fixed assets. • The audit work has been evaluated and presented to the Nomination Committee. • Updates to Group-wide policies have been reviewed.
36 · Hemnet Group | Annual and sustainability report 2022
Administration report
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