The independent outside auditor’s statutory task is to ensure that the financial statements and the report of the Board of Directors contains correct and adequate information on the results of VMP’s financial period and its financial situation. As part of the annual audit, the auditor audits the company’s accounting and governance. In addition, the auditor audits the Group financial statements and other relationships between Group companies. VMP’s financial period is the calendar year.
The auditor provides VMP’s shareholders with the statutory auditor’s report in conjunction with the Company’s financial statements. The auditor reports regularly to the Board’s Audit Committee and takes part in its meetings.
The Annual General Meeting elects the auditor based on a Board presentation prepared by the Audit Committee. The General Meeting also decides on the remuneration paid to the auditor and the grounds for the payment. According to the Articles of Association, VMP has one (1) auditor. The auditor’s term constitutes the financial period ongoing at time of election, and their term finishes at the end of the next Annual General Meeting following the election. According to the Articles of Association, the company’s auditor is an audit company approved by the Finnish Patent and Registration Office.
The Company is audited by KPMG Oy Ab, with Authorized Public Accountant Esa Kailiala acting as the chief auditor.