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Topsil

Management

Board of Directors

Audit Committee
illustration

Audit Committee


Topsil's Board of Directors has set up an Audit Committee which is responsible for monitoring the Group's financial reporting, accounting policies, internal control procedures and the framework for the independent auditors. The Committee considers on an ongoing basis whether individual controls should be extended and tightened to ensure compliance and improvement of the internal control procedures in the Group companies.

The Audit Committee members are appointed by the Board of Directors from among its members, and in compliance with Danish law, at least one of the two members must be an accounting expert. Both members of the Audit Committee are considered to be independent members.

Topsil's Audit Committee held six meetings in 2010.

Read the terms of reference for the Audit Committee here.

Michael Hedegaard Lyng, chairman of the Audit Committee
(born in 1969)

Being Group Executive Director (CFO) of NKT Holding A/S and holding an MSc in Business Administration and Auditing, Michael Hedegaard Lyng represents traditional CFO competencies and experience in international listed industrial companies.

Jørgen Frost, member of the Audit Committee
(born in 1954)

Jørgen Frost has industrial management experience from listed industrial companies and a general commercial understanding of accountancy and financial matters.