The Board of Directors currently has no remuneration committee, audit committee, or any other committee. The Board of Directors instead takes the view that the tasks that would otherwise be performed by the committees are better performed until further notice by the Board of Directors as a whole. The Board of Directors will continue to monitor the need to set up committees.
The internal controls on financial reporting within Kancera have been designed to achieve a high level of reliability in external reporting. For example, within Kancera internal checks regarding financial reporting are aimed at ensuring efficient, reliable handling and reporting of purchases and sales, other revenue recognition, and reporting of the Company's financing. The control environment within Kancera forms the framework of the direction and culture with which the Company's Board of Directors and management communicates its message to the organisation. Internal management and controls in accordance with the customary framework is an area of management work that is given high priority. Kancera's Board of Directors and management define and design decision paths, authorities and responsibilities that are clearly defined and communicated in the organisation. The Company's Board of Directors also strives to ensure that guiding documents, as well as internal policies and guidelines, cover identified areas of significance, and that these provide the right guidance to the work of the various employees within the Company.