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Governance

Auditors

The statutory external audit for the financial period includes auditing of accounting records, financial statements, and administration. In addition to the auditor’s report issued annually, the auditors report to the Board on their audit findings on a regular basis. Cargotec’s financial period is the calendar year.

According to the Articles of Association, the company has at least one and a maximum of three auditors. The auditors must be public accountants authorised by the Central Chamber of Commerce. They are elected annually by the AGM and their assignment expires at the end of the first AGM following the election. PricewaterhouseCoopers Oy has acted as Cargotec’s auditor since the beginning of the company’s first financial period, 1 June 2005. The latest competitive bidding round for corporate audit services was arranged by the Board Audit and Risk Management Committee in autumn 2011.

The AGM of 22 March 2016 elected Authorised Public Accountants Tomi Hyryläinen and PricewaterhouseCoopers Oy as Cargotec’s auditors, in accordance with a proposal by the Audit and Risk Management Committee. PricewaterhouseCoopers nominated Authorised Public Accountant Ylva Eriksson as its principal auditor. Auditors’ fees are compensated against an invoice approved by the company.

Auditors' fees, MEUR 

​2015 ​2014 ​2013 ​2012 ​2011
​Audit fees ​2.6 ​2.6 ​2.4 ​1.9 ​2.6
​Non-audit fees ​2.4 ​2.3 ​3.1 ​1.9 ​1.2