External audit

At the 2010 Annual General Meeting, Pricewaterhouse Coopers (PwC) were appointed as the company’s external auditors for a four-year period up to the end of the 2014 Annual General Meeting. At the 2013 Annual General Meeting, PwC informed that authorised public accountant Bo Karlsson will be the new auditor in charge, from the day of the Annual General Meeting.

PwC have been the Group’s auditors since the Group was formed in 1994. PwC submits the audit report for ASSA ABLOY AB, the Group and a large majority of the subsidiaries worldwide. The audit of ASSA ABLOY AB also includes the administration by the Board of Directors and the CEO.

The company’s auditor attends all Audit Committee meetings as well as the February board meeting, at which he reports his observations and recommendations concerning the group audit for the year. The external audit is conducted in accordance with International Standards in Auditing (ISA), which has been good auditing practice in Sweden since 2011.

The audit of the financial statements for legal entities outside Sweden is conducted in accordance with statutory requirements and other applicable rules in each country. For information about the fees paid to auditors and other assignments carried out in the Group in the past three financial years, see Note 3 and the Annual Report for 2012, Note 3.