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External audit

Assisted by the Audit Committee, the Board prepares a proposal on the external auditor and presents it to the AGM for election. The external auditor must be a corporation of authorised public accountants accredited by the Finnish Patent and Registration Office. In co-operation with the auditor, the corporate management organises the audit of the Group's subsidiary companies, as required by applicable local legislation. Auditors of these subsidiary companies report directly to the legal unit they have audited, submitting a copy of each report to the Group's financial administration for inclusion in the Company's audit log.

The 2016 AGM appointed audit firm Deloitte and Touche Oy as the Company's auditor for the financial year 2016, with Jukka Vattulainen, Authorised Public Accountant, acting as the principal auditor.

Fees paid to the external auditor for the statutory audit services totalled €860,000 and for audit related and other services €71,000, in total €931,000 for the year 2016.

Updated : 27.03.2017