The main function of the statutory audit is to verify that the financial statements provide a true and fair view on the Group’s financial performance and financial position for the financial year. Sanoma’s financial year is the calendar year.
The auditor’s responsibility is to audit the Group’s and the Parent Company’s financial statements and administration in the respective financial year and to provide auditors’ opinion to the AGM. The auditor reports to the Board at least once a year.
According to the Articles of Association, Sanoma shall have one auditor, which shall be an audit firm approved by the Patent and Registration Office. The term of office of the auditor expires at the end of the next AGM following the election.
The AGM 2019 elected the Authorised Public Accounting firm PricewaterhouseCoopers Oy as the statutory auditor of the Company. Samuli Perälä, Authorised Public Accountant, acts as the Auditor in Charge. The Auditor shall be reimbursed against invoice approved by the Company. The term of the Auditor will end at the end of the AGM 2020.
PricewaterhouseCoopers Oy, with Samuli Perälä as the Auditor in Charge, has acted as the statutory auditor of the Company since the AGM 2017.
In 2017, the Group’s fees paid for audit services totalled EUR 1.1 million and fees paid for non-audit services EUR 0.3 million.