The auditors' task is to conduct an annual statutory audit in order to examine whether the financial statements present fairly the financial position, results of operations and cash flows of the company in conformity with generally accepted accounting principles in Finland, and that company's internal control functions are in place and support company's activities.
At the Annual General Meeting, the shareholders appoint one audit firm of public accountants certified by the Central Chamber of Commerce, to operate as company's Auditor, as stated in Articles of Association. The auditor’s term shall begin at the end of the General Meeting that elected the Auditor and expire at the end of the next Annual General meeting.
Furthermore the Charter of the Board adds that; (i) the board members shall discuss the auditor's report once a year in a meeting held during the first quarter and (ii) one of the Company's auditors should be present in the Board meeting, where the auditors report is discussed. The Board shall review the auditors' performance annually. Prior to the Annual General Meeting, the Board shall discuss who is to be proposed as auditors for the next financial year.
The auditor of Stonesoft is an authorized public accountant, Ernst & Young Oy, with authorized public accountant Bengt Nyholm as responsible auditor. The Stonesoft Group auditor fees were EUR 120, 732.40 in year 2011. Additionally, the auditor was paid EUR 3,734.00 for the services not related to auditing and EUR 2,983.00 for certifications and statements.