The General Meeting of Shareholders annually elects least one auditor, who shall have one deputy. An auditing firm can also be appointed as the auditor. If an auditing firm that is entered in the register of auditors of the Finnish Patent and Registration Office (PRH) and whose key audit partner is an Authorised Public Accountant is appointed the auditor, no deputy is required.
The term of office of the auditors expires at the close of the next Annual General Meeting following their election. The auditor’s task is to ensure that the financial statements are prepared in accordance with current regulations and that they provide correct and sufficient information on the company’s result, financial position and other aspects of the business for the stakeholders. As part of their annual
auditing assignment, the auditors of Alma Media Corporation audit the accounting and governance of the business units. The requirements set by the internal audit are taken into account in the audit plans.
The auditors submit their report to Alma Media Corporation’s shareholders at the Annual General Meeting. Furthermore, the auditors submit an annual summary of their auditing plan and a written report on the entire Group to the Board of Directors and Audit Committee in conjunction with the publication of each interim report and the annual financial statements. In addition, the auditors provide a separate report on any observations concerning the audit of the financial year to the Group’s financial management and the Audit Committee.
Alma Media Corporation’s Annual General Meeting 2020 elected Authorised Public Accountants PricewaterhouseCoopers Oy as the company’s auditors, with Markku Launis, Authorised Public Accountant, as the principal auditor. As a rule, PricewaterhouseCoopers is the auditor of the subsidiaries of Alma Media Group.
Alma Media Group’s auditing fees for 2019 amounted to EUR 266,000. In addition, the auditing firm PwC charged the Group a total of EUR 65 000 in fees for other services in the 2019 financial year, including, among other things, advisory services related to reporting on corporate responsibility. PWC has served as the Group’s auditor since 2014.