Audit Committee
Sydbank’s Board of Directors has set up an Audit Committee which reviews accounting and auditing matters that are subsequently considered by the Board of Directors.
The Committee consists of Svend Erik Busk (Chairman), General Manager, Kresten Philipsen, Farmer, former County Mayor, and Anders Thoustrup, General Manager. Jakob Aakjær, Head of Executive Secretariat, is the Committee’s secretary.
The Board of Directors of Sydbank has appointed Svend Erik Busk, General Manager, as the independent and qualified board member. Svend Erik Busk’s competence is based on 35 years of accounting experience, the last 22 years as partner of KPMG. Moreover, in a legal sense Svend Erik Busk is an independent board member. In other words, he has no commercial, family or other ties to the Bank, significant shareholders or their managements which may cause any conflict of interests that might affect his judgement.
In the opinion of the Board of Directors, Svend Erik Busk will be able to make an independent assessment of whether Sydbank’s financial reporting, internal controls, risk management and statutory audit are appropriately planned and performed in relation to the Bank’s size and complexity.