The Audit Committee monitors issues related to administrative processes, refinancing and treasury operations.
Scania’s Board of Directors have established one working committee, the Audit Committee, to which the Board of Directors appoints the members from among its own members. The Audit Committee monitors issues related to administrative processes, refinancing and treasury operations. Its brief also includes discussing and evaluating the company’s application of important accounting issues and principles and the company’s financial- and non-financial reporting, as well as evaluating the auditors and approving the use of external auditors for non-auditing-related services. Strategic-, financial-, legal & compliance- and business risks, including sustainability and climate-related risks, are reported regularly to the Audit Committee.
The Audit Committee also regularly receives reports regarding internal audits and the state of the internal controls and risk management systems. The Audit Committee shall also receive and discuss complaints concerning accounting, internal controls or auditing in the company. The Audit Committee is identical and common to Scania AB and Scania CV AB.
Scania’s Board of Directors shall comprise a minimum of three and a maximum of eleven members elected by the AGM and four employee representatives plus two deputies for the latter.
Responsibilities and workThe Board of Directors is mainly responsible for determining Scania’s overall strategies and goals.The Board of Directors is mainly responsible for determining Scania’s overall strategies and goals.