Auditing

The Auditor is elected by the AGM for a one-year term, which terminates at the end of the AGM following the election.

CapMan’s articles of association state that the company shall have one ordinary auditor (a chartered public accountant or auditor) approved by the Finnish Central Chamber of Commerce. The Board’s proposal for the auditor and for the remuneration of the auditor is published in the notice to convene the AGM. The auditor is elected by the AGM for a one-year term, which terminates at the end of the AGM following the election. The company complies with the provisions of the Finnish Auditing Act in calculating the length of the auditor’s term of office. Under these provisions, the expiration of the prescribed time of the auditor’s term of office begins from the start of the financial year following the coming into force of the new Auditing Act, which is the 1 January - 31 December 2008 financial year. CapMan’s AGM 2018 decided to elect Ernst & Young Oy, and the head auditor Ulla Nykky, Authorised Public Accountant as the company’s auditor, who are responsible for guiding and coordinating the auditing work of the entire Group.

In accordance with the decision of the previous AGM, the auditor shall be remunerated as per the amount invoiced and approved by the Board of Directors.

In 2017 the Auditor’s fees were the following:

Fees 2017 (euro)

Fees 2016 (euro)

Auditing fees

257,000

261,000

Other services

165,000

299,000

In total

422,000

560,000