Corporate Governance

The Swedish Code of Corporate Governance (‘the Code’) applies to all Swedish companies listed on NASDAQ OMX Stockholm and NGM Equity. Getupdated is listed on First North Premier, and accordingly, is not obliged to apply the Code. However, the Code is an important component of the company’s corporate governance guidelines, and the company observes significant parts of the Code in the work of the Board. If the Code becomes binding for Getupdated, the company will apply it.


Getupdated complies with the Swedish Companies Act and the rules and recommendations ensuing from the company’s quotation on the First North marketplace. Getupdated also complies with the stipulations of the company’s Articles of Association.
 

Financial reporting

In addition to the stipulations of the Swedish Companies Act and Getupdated’s Articles of Association, the Board has prepared rules of procedure including instructions relating to internal and external financial reporting. All interim reports, annual financial statements and press releases are published on Getupdated’s website immediately coincident with publication.

 

Internal Controls

Getupdated’s internal control structure proceeds from the division of responsibilities between the Board and the CEO. Regular reporting and reviews of financial outcomes occur at both operational management and Board level.


Auditing and Auditors

The auditors are appointed by the AGM for a period of four years. The AGM in May 2008 elected Ernst & Young as Auditor of Getupdated. Authorized Public Accountant Björn Grundvall is Senior Auditor for the period until the AGM 2012. Mr. Grundvall holds no shares in Getupdated.


Remuneration to the Auditor is payable on open account and amounted to SEK 1,392,000 for the group in 2009.


Auditors

 

Elected Auditor: Ernst & Young AB, corp. ID no. 556053-5873
Senior Auditor: Björn Grundvall
Born in 1955.
Auditor of Getupdated since May 2008.
Authorized Public Accountant, Ernst & Young AB and member of FAR SRS.
Address of Ernst & Young AB: Jakobsbergsgatan 24,
Box 7850, 103 99 Stockholm, Sweden.