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Corporate Governance

Board Committees

The Board has established two internal committees – the Audit Committee and Remuneration Committee. The committees are preparatory bodies and the Board has the overall responsibility and retains the exclusive right to resolve on more important matters within the framework of the authorization.



REMUNERATION COMMITTEE

The Board of directors did at the statutory board meeting on 27th of May 2020 appoint a remuneration committee. The purpose of the remuneration committee is to assist the board of Mentice in matters relating to remuneration. The areas of responsibility for the committee are defined in the rules of procedure for the board of directors and the remuneration committee own rules of procedure and instruction.

The members of the committee are Magnus Nilsson (Chairman of the Committee) and board members, Denis Gestin and Gösta Johannesson.

AUDIT COMMITTEE

The board of directors of Mentice appointed an audit committee at the statutory board meeting on 27 May 2020. The Audit Committee’s area of responsibility is defined in the audit committee’s rules of procedure and instructions. The purpose of the audit committee’s work is to assist the board of Mentice in matters relating to financial reporting, auditing, and risk management. The audit committee is a preparatory body, and the board has the overall responsibility for audit-related issues.

The audit committee consists of three board members: Eola Änggård Runsten (chairman of the audit committee), David J Ballard and Johan Koss.

The Audit Committee shall in particular monitor:
(i) the audit of the Annual Report and the consolidated financial statements,
(ii) transactions with related parties, important accounting principles and important correspondence between the company’s auditors and management,
(iii) the effectiveness of the company’s internal controls regarding financial reporting,
(iv) the company’s routines concerning comments on the company’s accounts, internal control and auditing,
(v) the scope, focus and quality of auditing work, including follow-up of the audit performed,
(vi) budgeted and actual auditing expenses,
(vii) the auditors’ recommendations, conclusions, observations and proposals after an audit has been performed,
(viii) the auditor’s impartiality and independence and in this connection pay particular attention to whether the auditor provides the company with other services than auditing work and
(ix) assist in the drawing up of proposals for adoption by the Annual General Meeting regarding election of an auditor.