The Company shall have one auditor which is an accounting firm approved by the Finnish Central Chamber of Commerce (APA). The Annual General Meeting elects the Company’s auditor.

PricewaterhouseCoopers Oy (PwC) has been acting as the Company’s auditor since 2008. On April 5, 2016, the Annual General Meeting re-elected PwC as the Company’s auditor. PwC designated Markku Katajisto, APA, as the Responsible Auditor. The Company’s subsidiaries are subject to local auditing under local regulations which are, with a few exceptions, conducted by representatives of PwC’s network in each country.

The fees of the statutory audit for 2016 were EUR 661 thousand in total in the Group (EUR 705 thousand in 2015). Other fees charged by PwC amounted to EUR 843 thousand in the Group, of which EUR 602 thousand were related to the planned merger with Munksjö Oyj (EUR 562 thousand in 2015). The other fees mainly consist of tax and audit related services as well as other consulting services.

Updated: February 2017

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