Auditing committee
H&M’s Auditing Committee is appointed annually by the Board of Directors. The Auditing Committee consists of Board members Stig Nordfelt (Chairman), Bo Lundquist and Sussi Kvart. The Committee’s meetings, for which minutes are always kept, are usually attended by CFO Jyrki Tervonen, Chief Accountant Anders Jonasson and the auditors. Various specialists, e.g. in establishment, security and IT, are called in if necessary.
The Auditing Committee’s main duties are to review the reporting routines and assess whether they are in line with H&M’s needs. The Committee’s task is also to ensure that accurate information is provided to the Board in an expeditious manner. The Auditing Committee receives constant information and supporting documentation used for decision-making from, among others, the Managing Director, the CFO and the company’s external auditors.