In the autumn of 2010 Thule Group carried out a study on the group's status in relation to a potential IPO. In conjunction to this study, there was also carried out a major review of the companies needs and functions in relation to the audit field. The review's was carried out in the light of the processes, internal regulations and procedures necessary to meet the demands that will be placed on the company at a possible IPO. In 2010 the audit company KPMG was appointed to the Group's auditors. The appointment will last four financial years until the end of the time of the Annual General Meeting, to be held during 2014.

KPMG provides an audit opinion on the financial statements and the consolidated accounts for Thule Investment AB, the administration of the board of directors and the managing director and the financial statements of the Groups subsidiaries. The audit is conducted in accordance with the Swedish Companies Act and in accordance with International Standards on Auditing and generally accepted Swedish auditing standards

Audits of local statutory financial statements for legal entities outside of Sweden are performed in accordance with laws or other applicable regulations in the respective countries, and in accordance with International Standards on Auditing, including issuance of audit opinions for the various legal entities when required.

The auditors attend the meetings of the Audit Committee and report to the Board of Directors when appropriate, but at least three times annually.