Transcom’s auditors are elected by the AGM for a period of one year. Ernst & Young have been the Company’s auditors since 2001. The next election of the auditor will take place at the 2010 AGM.

The auditors report their findings to shareholders by means of the auditors’ report, which is presented to the AGM. An opinion letter from the Company's external auditors is published in the Company's Annual Report. In addition, the auditors report detailed findings at each of the regular meetings of the Audit Committee.

Please see ‘Audit Committee Internal Regulations’ for more detail.