The auditor is appointed by the General Meeting who also stipulates the auditor’s fee. The auditor does not perform other assignments for the group which may lead to integrity conflicts, and it is the responsibility of the board of directors to ensure that the auditor’s independent role is handled.
The auditor works in accordance with an annual plan for audit work that has been submitted to the board of directors. The auditor attends board meetings dealing with the annual account, and will at least once annually attend the board meeting without the Chief Executive Officer or other persons of day-to-day management being present. The auditor will annually review a description of ALIGN’s internal control with the board of directors.
As far as it is practically feasible, ALIGN will employ the same auditing firm as the subsidiaries of ALIGN AS.
In a time where the focus on cost savings is at its peak, we need to ensure that the safety of the installations still meets the requirements and that we still can claim to be “top of the league” regarding safety in the Petroleum sector.