At the AGM in April 27, 2010 PwC was re-elected as external auditors up to the end of the Annual General Meeting in 2014.
PwC provides an audit opinion on the financial statements and the annual report for Husqvarna AB, the consolidated financial statements for the Husqvarna Group, the administration of Husqvarna AB, and the financial statements of Husqvarna's subsidiaries. The audit is conducted in accordance with the Swedish Companies Act and generally accepted Swedish auditing standards issued by FAR SRS, which are based on Generally Accepted Auditing Standards issued by the International Federation of Accountants (IFAC GAAS).
Audits of local statutory financial statements for legal entities outside of Sweden are performed in accordance with laws or other applicable regulations in the respective countries, and in accordance with IFAC GAAS, including issuance of audit opinions for the various legal entities when required.
The auditors attend the meetings of the Audit Committee and report to the Board of Directors when appropriate, but at least once annually.
Work during the year
In addition to the annual audit of the financial statements, in 2012 the auditors reviewed selected items in the balance sheets and income statements of major Group units as of 30 September 2012, known as hard-close audit procedures, in order to identify possible auditing issues in good time prior to the closing of accounts. The results of their review have been discussed with Group management and reported to the Audit Committee. The interim report for January-September 2012 has been reviewed by the external auditors.
Prior to the AGM 2012 the auditors reviewed the Board's proposal for remuneration and other terms of employment for Group Management in Husqvarna.