10. Financial audit and internal audit
10.1 Financial audit
An authorised public accounting company selected by the general meeting acts as auditor for the company. The company’s financial auditor inspects the accounting, financial statements and financial administration for each financial period and provides the general meeting with reports required by accounting legislation or otherwise stipulated in legislation. The financial auditor reports on his or her work, observations and recommendations for the Board of Directors and may also carry out other authorisation-related tasks commissioned by the Board or management.
The annual general meeting of 2016 elected authorised public accountants PricewaterhouseCoopers Oy as the auditor of the company. Authorised public accountant Jouko Malinen serves as the company’s responsible auditor. The general meeting decided that the auditor’s fee and expenses are paid on the basis of a reasonable invoice accepted by the company.
|Auditor’s fees, EUR 1,000||2016||2015|
10.2 Internal audit
The Board of Directors decides on the operating model for the company’s internal audit. The internal audit acts on the basis of plans processed by the Audit Committee and approved by the Board. Audit results are reported to the object of inspection, the CEO, the Audit Committee and the Board. Upon decision of the Board, an internal audit outsourced to an authorised public accounting company acts within the company. From an administrative perspective, the internal audit is subordinate to the President & CEO. The internal audit provides a systematic approach to the assessment and development of the efficacy of the company’s risk management, monitoring, management and administrative processes and ensures their sufficiency and functionality as an independent party. The internal audit has the authority to carry out reviews and to access all information that is essential to the audit. Fingrid’s internal audit carries out risk-based auditing on the company’s various processes.
In 2016, Deloitte & Touche Oy served as Fingrid’s internal auditor and carried out a total of three audits. The audits concerned the company’s maintenance management, the management of customer contracts and customer data, and financing activities. The fees paid to Deloitte & Touche Oy for auditing tasks totalled EUR 63.200.