External and internal audits

Auditors

The company has two auditors: a firm of authorised public accountants and an auditor approved by the Central Chamber of Commerce. In accordance with the Finnish Auditing Act, the auditors are responsible for auditing the company and Group’s financial statements, accounts and administration, and for submitting a report on their audit to the Annual General Meeting.

Sponda Plc’s auditors for the period from 1 January to 16 March 2015 were Esa Kailiala (APA) and authorised public accountants KPMG Oy Ab, with Kai Salli (APA) as the principal responsible auditor and Lasse Holopainen (APA) as deputy auditor. The AGM held on 16 March 2015 elected APA Esa Kailiala and authorised public accountants KPMG Oy Ab as the company’s auditors, with APA Lasse Holopainen as the principal responsible auditor and APA Petri Kettunen as the deputy auditor. Esa Kailiala has served as Sponda Plc’s auditor from 2013, Kai Salli in 2008–2015 and Lasse Holopainen in 2003–2004 and again from 2013. 

The auditing fees paid to the auditors in 2015 amounted to EUR 176,078. A further EUR 710,143 was paid to the auditors for other consulting services.  These fees, totalling EUR 886,221, include all the fees paid by Group companies.

Internal audit

Sponda’s operational efficiency, financial performance and risk management are audited internally. The internal audit is performed by an expert appointed from outside the company. The internal audit reports functionally to the audit committee and administratively to the President and CEO.