Auditors

The ARC prepares a proposal on the appointment of Tieto’s auditors, which is then presented to the Board and finally to the AGM for its decision. The compensation paid to the auditors is decided by the AGM and assessed annually by the ARC.

The Board of Directors proposes to the Annual General Meeting, in accordance with the recommendation of the Audit and Risk Committee of the Board of Directors, that the auditor to be elected at the AGM 2017 be reimbursed according to the auditor's invoice and in compliance with the purchase principles approved by the Committee.

The Board of Directors proposes to the Annual General Meeting, in accordance with the recommendation of the Audit and Risk Committee of the Board of Directors, that the firm of authorized public accountants PricewaterhouseCoopers Oy be re-elected as the company's auditor for the financial year 2017. The firm of authorized public accountants PricewaterhouseCoopers Oy has notified that Tomi Hyryläinen, Authorized Public Accountant, will act as the auditor with principal responsibility.

The Audit and Risk Committee has prepared its recommendation in accordance with the EU Audit Regulation and in a full-scale selection procedure. The Committee has comprehensively assessed the received offers against the predefined selection criteria. In addition to knowledge and competences, the Committee has considered the quality and expense risk related to the change of the auditor and, on the other hand, the integrity of the auditor. In its recommendation to the Board of Directors, the Audit and Risk Committee placed second the firm of authorized public accountants Ernst & Young Oy.

Auditing

The AGM 2016 re-elected the firm of authorized public accountants PricewaterhouseCoopers Oy as the company’s auditor for the financial year 2016. PricewaterhouseCoopers Oy notified the company that authorized public accountant Tomi Hyryläinen acts as chief auditor. In 2016, Tieto Group paid the auditors a total of EUR 0.8 (0.7) million in audit fees, of which EUR 0.8 (0.7) million to the Group’s auditor PricewaterhouseCoopers Oy, and a total of EUR 0.9 (1.0) million for other services, of which EUR 0.8 (0.9) million to the Group’s auditor