The Audit Committee shall inform the Board of Directors of the outcome of the statutory audit, including the financial reporting process. We advise and assist the Audit Committee to comply with the obligation to inform the Board of Directors. Inspicio has the capability to advise and assist the Audit Committee in being compliant with the obligation to inform the Board of Directors, as well as how this information is communicated most effectively and comprehensively.

The Audit Committee shall monitor the financial reporting process and submit recommendations or proposals to ensure its integrity. The Audit Committee shall also monitor the statutory audit of the annual and consolidated financial statements. Findings and conclusions from the quality assurance review made by the competent authority should be taken into account. Inspicio has the capability to advise and assist the Audit Committee in the monitoring tasks.

The Audit Committee shall monitor the effectiveness of the company's internal quality control and risk management systems and, where applicable, its internal audit regarding the financial reporting of the audited entity, without breaching its independence. Inspicio has the capability to advise and assist the Audit Committee in the above-mentioned monitoring and assessment. This may include identification of relevant areas and processes and the evaluation thereof, based on the procedures and internal controls, adopted by the Board of Directors or the Executives.

The Audit Committee shall review and monitor the independence of the statutory auditors or the audit firms in accordance with section 24-24c of the Danish Act on Approved Auditors and Audit Firms, as well as Article 6 of the Regulation (EU), and in particular the appropriateness of the provision of non-audit services to the audited entity in accordance with Article 5 of that Regulation. Inspicio has in-depth knowledge of the provisions on auditor's independence and, therefore, has the capability to advise the Audit Committee on compliance with the rules.

The Audit Committee is responsible for the appointment of auditors for election in accordance with Article 16 of the Regulation (EU). Inspicio may advise and assist the Audit Committee to comply with the requirements of Article 16 and provide an overview and structure of the audit tender process.

Inspicio advise and conduct consultancy with practical establishment of Audit Committees, as well as preliminary and continuous assessment and evaluation of the composition and qualifications of the Audit Committee. In addition, Inspicio organizes courses and workshops targeted at Audit Committees., including training sessions and workshops. We assist to ensure that the Audit Committee creates the highest possible value for the company, by courses, training and continuous updating on the latest legal requirements.