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Cargotec’s governance and management are based on the Finnish Limited Liability Companies Act and Securities Markets Act, as well as the company’s Articles of Association and Code of Conduct. Cargotec class B share is listed at Nasdaq Helsinki and the company complies with the rules and guidelines of Helsinki Exchange and the Finnish Financial Supervision Authority. Cargotec complies with all the recommendations of the Finnish Corporate Governance Code 2020, published by the Securities Markets Association (

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. 

The AGM of 23 March 2021 elected Ernst & Young Oy as Cargotec’s auditor, in accordance with a proposal by the Board, on the recommendation of the Audit and Risk Management Committee. Auditors’ fees are compensated against an invoice approved by the company.


Auditors' fees

MEUR​ 2020 ​2019
​Audit fees 3.0 2.9
Services under the Finnish Auditing Act, chapter 1, section 1(1), point 2 0.5 -
Tax advice 0.6 0.6
Other services 1.0 0.6

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