Auditors

The external Auditor is elected by the AGM after being nominated by the Nomination Committee. The Auditor presented his review and comments to the Board four times during the current mandate, one of which was in the CEO’s absence. In addition, the Auditor regularly meets the Chair of the Board and the Chair of the Audit and Compliance Committee. Swedbank’s interim reports are reviewed by the bank’s Auditor.

In accordance with its Articles of Association, Swedbank shall have no less than one and no more than two authorised public accountants. The appointed auditor is Deloitte AB, Sweden, with Authorised Public Accountant Svante Forsberg as Chief Auditor. Svante Forsberg has been in charge of auditing duties for Swedbank since 2010. Aside from Swedbank, he has auditing assignments for primarily the following companies: Alliance Oil, Black Earth Farming, Fabege, Lannebo Fonder, Max Matthiessen and Skandia Liv. Svante Forsberg has no assignments for other companies that affect his independence as an auditor of Swedbank. Compensation for the Group’s auditors is reported in note G15. The Swedish Financial Supervisory Authority, under whose jurisdiction Swedbank lies, did not appoint an auditor for 2010.