The Board determines the company’s goals, strategies, budget and business plan. The Board is responsible for the organization and management and shall ensure the quality of the financial reporting and internal control. In addition, the Board shall consider and approve financial statements and determine important policies and regulations. The Board shall also decide on major decisions outside routine management such as investments and changes. The Board shall follow up operations based on objectives and guidelines. The work is governed by the Swedish Companies Act, the Code and the Board’s rules of procedure.
The Board shall annually hold a statutory meeting after the AGM. At the statutory board meeting, among other things, the company’s authorized signatory shall be determined and the Board’s rules of procedure are to be reviewed and determined. In general, the company’s board meetings deal with the company’s financial situation and matters of major importance to the company. The CEO regularly reports business plans and strategic issues. The Board is under the Board’s rules quorum when at least three members are present.
In accordance with the Swedish Companies Act, Episurf Medical’s board has adopted a written charter for its work. The current procedures CEO-instructions was adopted at Board meeting No 11 on August 18th 2016. These rules regulate among other things how the Board’s work shall be conducted and what matters to be considered by the Board. The procedure also governs how the Board regularly is to receive information and financial reporting by the CEO.
The Board participates in its entirety in the process of auditing matters, including monitoring and evaluating the audit process, quality assurance of the company’s financial reporting, assessing reports from the external auditor and reviewing the auditors independence in relation to the company including the extent of the auditor’s eventual non-audit services to the company. The Board has not established an audit committee.