Audit Committee

Cemat's Audit Committee was set up in 2009, and the Committee is responsible for monitoring the Company'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 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. The Committee conducts annual self-evaluation to assess each member's performance.

The Audit Committee held 8 meetings in 2015.

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.