Audit

The Annual General Meeting elects the auditor based on a proposal of the Board of Directors. The Board’s Audit Committee prepares the draft resolution concerning the election of the auditor. The auditor audits the company’s accounts, financial statements and administration for the financial year. The parent company’s auditor must also audit the consolidated financial statements. The auditor regularly reports to the Board of Directors and its Audit Committee and provides the Company’s shareholders with an auditor’s report as required by law. YIT’s key subsidiaries engaged in business activities must elect auditors from the same chain of audit firms as the one used by the parent company.

Pursuant to the decision of the Annual General Meeting, the auditor’s fee is paid as per an invoice approved by the company. YIT complies with the provisions of the Auditing Act and the EU Audit Regulation with regard to the maximum duration of the auditor’s terms of office and, in electing the auditor, also takes into consideration that the total duration of the consecutive terms of office of the auditor with main responsibility must not exceed seven years.  

YIT’s auditor is the auditing firm Ernst & Young Oy, with Authorised Public Accountant Mikko Rytilahti as the chief auditor.