H&M Group’s audit committee is appointed annually by the board of directors. The audit committee consists of Christian Sievert (chair) along with Anders Dahlvig and Erica Wiking Häger (members).
The committee’s meetings, at which minutes are always taken, are usually also attended by CFO Adam Karlsson, chief accountant Hanna Andersson and the company’s auditors. Various specialists, e.g. in expansion, security or business tech, are called in if necessary.
The audit committee monitors the company’s financial reporting, which includes monitoring the effectiveness of the company’s internal control and risk management. Its work includes handling auditing topics and financial reports published by the company.
The audit committee continually receives information and supporting documentation for decision-making from, among others, the CEO, the CFO and the company’s external auditors. A further task of the audit committee is to ensure that accurate information is provided promptly to the board.
The auditors appointed by the annual general meeting attend the meetings of the audit committee to report on their reviews of the group’s annual and sustainability report and accounts etc. The audit committee also reviews and monitors the impartiality and independence of the auditors and regulates which assignments the accounting firm may conduct in addition to the audit. The committee also assists the nomination committee with any proposals to the AGM concerning the election of auditors.