External auditor

At the 2018 Annual General Meeting, the audit firm PricewaterhouseCoopers AB was elected new auditor of Sandvik AB for the period until the 2019 Annual General Meeting. Peter Nyllinge is the auditor-in-charge.

The auditor continuously audit and monitor the company’s general accounting and the execution by the Board and the President of their respective responsibilities.

The progress of the audit is reported regularly during the year to the management teams of individual companies and the business areas, the Audit Committee and to the Board. The auditor meets with the Board at least once a year without the President or any other member of the Group Executive Management attending.

The independence of the external auditor is guaranteed by the Audit Committee having determined the principles for allowing non-audit services to be provided by the auditor and, in some cases, pre-approving non-audit services.

Audit fees are paid continuously over the period in office on an approved current account basis. For detailed information on fees paid to the auditor, see Note 3.6.