External audit

At the 2006 Annual General Meeting PricewaterhouseCoopers (PwC) were appointed as the company’s external Auditors for a four-year period up to the 2010 Annual General Meeting, with Authorized Public Accountant Peter Nyllinge as the Auditor in Charge. PwC have been the Group’s Auditors since the Group was formed in 1994. Peter Nyllinge, born in 1966, is responsible for auditing the following companies besides ASSA ABLOY: Bonnier AB (publ) and Skandinaviska Enskilda Banken AB (publ).

PwC undertake the audit of ASSA ABLOY AB, the Group and a substantial majority of its subsidiaries round the world. The audit of ASSA ABLOY AB also covers the administration by the Board of Directors and the CEO.

The company’s Auditor attends all meetings of the Audit Committee and also the Board meeting in February, at which he submits his observations and recommendations concerning the Group’s annual audit.

The external audit is carried out in accordance with good auditing practice in Sweden. The auditing of annual financial statements for legal entities outside Sweden is in accordance with legal requirements and other applicable regulations in the countries concerned and with good auditing practice as defined by the International Federation of Accountants (IFAC) for the issue of audit reports for the legal entities. For information about the fees paid for audit and other assignments in the Group during the last three financial years.