Audit

The primary duty of statutory auditing is to verify that the financial statements give correct and sufficient information about the Group’s profit and financial situation for the financial year. Etteplan Oyj’s financial year is the calendar year. The auditor is responsible for auditing the Company’s accounts and the correctness of its financial statements during the financial year, and for issuing an auditor’s report to the Annual General Meeting.

A summary of the Group’s audit report is compiled for the Board of Directors. Also, the auditors of all Group companies report separately to the management of each company within the Group. The auditor attends at least one meeting of the Board of Directors in the relevant financial year.

The Annual General Meeting elects one regular auditor to audit corporate governance and accounts. The auditor must be a firm of independent public accountants so authorized by the Central Chamber of Commerce. In 2013, the Annual General Meeting elected PricewaterhouseCoopers Oy, a firm of authorized public accountants, with Mika Kaarisalo, APA, acting as Chief Auditor. The auditor’s term ends at the conclusion of the first Annual General Meeting after the election.

Audit fees and services not related to auditing

According to the resolution made by the Annual General Meeting 2013 the fees for the auditor are paid according to invoice approved by the Company.

The audit fees paid in 2012 totalled 108,412 euros (in 2011: 58,975 euros). In addition, 148,238 euros was paid to the firm for services not related to auditing (in 2011: 74,996 euros).