The Board of Directors has determined the procedure for the external auditor’s regular reporting to the Board.
Each autumn, the external auditor presents to the Board his assessment of risk, internal control and the quality of financial reporting at Orkla, at the same time presenting his audit plan for the following year. The external auditor also takes part in the Board’s discussions on the annual financial statements. On both occasions, the Board of Directors ensures that it is able to discuss relevant matters with the external auditor without the presence of the management.
The external auditor and the President and CEO attend all meetings of the Board’s Audit Committee. For information regarding the work of the internal auditor, reference is made to the section Risk management and internal control. Orkla has established guidelines for the right of the general management to use the external auditor for services other than auditing. Responsibility for monitoring such use in detail has been delegated to the secretary of the Audit Committee, who is the Chief Internal Auditor.
The secretary of the Audit Committee approves all material assignments in advance and receives an annual summary from the external auditor of services other than auditing that have been provided to Orkla, and comments specifically on these services in his annual report to the Audit Committee and the Board of Directors. Details of the company’s use and remuneration of the external auditor are disclosed in Note 5 to the financial statements of Orkla ASA.
The General Meeting is informed about the Group’s overall remuneration of the auditor, broken down in accordance with statutory requirements into remuneration for statutory auditing and remuneration for other services. In connection with the auditor’s participation in the Audit Committee and the Board of Directors’ consideration of the annual financial statements, the auditor also confirms his independence.
|Amounts in NOK million (excl. VAT)||2017||2018|
|Other attest services||0,1||0,1|
|Tax consultancy services||2,1||1,2|
|Other non-audit services||2,5||5,5|
|Other attest services||1,5||0,6|
|Tax consultancy services||4,4||2,6|
|Other non-audit services||4,9||6,1|
|Total fees to EY||39,6||40,2|
|Statutory audit fee to other auditors||2,4||2,6|
Erik Mamelund, State Authorised Public Accountant (Norway) at EY, audits the financial statements of Orkla ASA, comprising the financial statements for the Parent Company and the Group.