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 (member).
Audit committee
The committee’s meetings, at which minutes are always taken, are usually also attended by CFO, the head of finance & accounting, the head of investor relations and the head of corporate governance and the company’s auditors. Various specialists, e.g. in POD/HR, Expansion, Security, Business Tech and Data Protection Officer.
The Audit Committee oversees H&M Group’s financial reporting, including compliance with legal requirements on statutory sustainability reporting, and the effectiveness of the company’s risk management and internal control, ensuring impacts, risks and opportunities are appropriately managed — including those related to sustainability. The committee oversees all auditing topics and publication of company financial reports. The Audit Committee also assists the Nomination Committee with any proposals to the AGM concerning the election of auditors.
The Audit Committee reviews and monitors the impartiality and independence of the auditors and determines which assignments the accounting firm may conduct for H&M Group in addition to the audit. The auditors provide an annual written statement to the Audit Committee providing assurance of the auditors’ independence and outlining which additional services the accounting firm has provided to H&M Group during the financial year.
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.
Read more about the work of the Audit Committee during 2023 in our Corporate Governance Report on pages 13-14.
