The audit plays an important role as the auditing body appointed by the shareholders. It provides shareholders with an independent statement on how the company's accounts, financial statements and administration have been managed.
The main task of the statuatory audit is to confirm that the financial statements give a true and fair view of the company's financial performance and position for the period ended. Tecnotree has one auditor. The auditor reports to the Board of Directors in conjunction with each interim report and issues an auditor's statement to shareholders as part of the annual financial statements.
The auditor's term of office corresponds to the company's financial year, expiring at the close of the Annual General Meeting following election.
Tecnotree's auditor in the financial year 2009 was KPMG Oy Ab, and the principal auditor was Sixten Nyman, Authorised Public Accountant, and will continue year 2010, until the end of the following Annual General Meeting.
The auditors' fees paid by Tecnotree Group for the 2009 totalled EUR 99,417. In addition, the auditors were paid a further EUR 95,121 in fees for other services.