Auditor

The annual general meeting appoints the auditor based on the board’s proposal and approves the auditor’s fees. The auditor serves until a new auditor is appointed. The external auditing contract is normally put out to tender at regular intervals.

The board has meetings with the external auditor to review the annual financial statements and otherwise as required. The board evaluates the external auditor’s independence and has established guidelines for the use of the external auditor for consultancy purposes. In accordance with the requirement to maintain the auditor’s independence, Statkraft will only make limited use of the external auditor for tasks other than statutory financial audits.

The auditor will present an annual written report to Statkraft’s President and CEO as part of the ordinary audit. The board is advised of the main elements of this report.