Audit Procedures

Auditor

The accountancy firm Ernst & Young AB was appointed as auditor at the 2007 Annual General Meeting. Sven-Arne Gårdh is the principal auditor and Nina Bergman is assistant auditor. Sven-Arne Gårdh's other public assignments include Wallenstam, Global Health Partner, and Hemtex. Nina Bergman's other auditing assignments and where she is acting as deputy auditor include Saab Automobile AB and Arctic Paper Munkedals AB. Neither Sven-Arne nor Nina own any shares in New Wave Group.

Audit Work

The Group applies International Financial Reporting Standards (IFRS) when preparing the Group’s reports. The Group’s interim report for the third quarter is the subject of a general review by the company’s auditor. This review follows the recommendations issued by FAR SRS, the organisation for authorised public accountants. The audit of the annual report, consolidated financial statements, the accounting records and the administration of the Board and CEO is conducted in accordance with generally accepted auditing standards in Sweden.