Tuokko is an expert organization founded in 1971. We employ around 70 financial management, auditing, taxation and business development professionals in Finland and Estonia. We have been providing customers with a wide range of expert services in financial management and taxation for 50 years.
Our mission is to be Finland’s most customer-oriented expert organization that generates business and administrative added value for its customers.
Our vision is to grow into a real challenger alongside international and major national organizations.
Expertise is at the heart of what we do. We continuously develop and maintain our key asset – our skills and competences. We closely monitor and adapt nimbly to our ever-changing business environment.
We are an independent company that processes all of our data confidentially. We comply with legislation and industry regulations. As a proactive company, we stick to agreed schedules and keep all the relevant parties well informed. We understand that mistakes are a part of the human development. By admitting and owning our mistakes, we earn the respect of others.
We always share our best knowledge and practices with our customers. We are a respectful and positive-minded partner that provides customers with integrity. We pay close attention, listen, provide insights and find solutions together.
We act as a single team, value diversity and help each other to excel. We are one and only Tuokko – proud and nurturing each one of its members.
It was in 1971 when Yrjö Tuokko, APA, started his career as an auditor by founding a company bearing his own name – Yrjö Tuokko Auditing Services Ltd. The business started as a one-man auditing office in the attic of a family house in Espoo, Finland. The first audit clients were Finnish national organizations and companies representing the transport industry. Cooperating with such clients was a natural consequence of the fact that before graduating as a APA, Yrjö Tuokko held management positions in financial management for almost ten years. Soon the company operations started to expand, and in the mid-1970s the attic room changed into an office space in central Helsinki. At the time, there were about 10 employees and the customer base consisted of nearly 500 customers, representing different company types.
In 1984, we purchased Villa Neovius, because we needed bigger business premises as our operations and the number of employees kept on growing steadily. At the time of our relocation, the number of our employees had doubled, and we had acquired almost one thousand customers. The introduction of international audit chains in Finland in the 1980s resulted in the internationalization of the whole industry. Our first international partner was Grant Thornton. Our cooperation continued until the early 1990s. Furthermore, we set up an audit team specializing in bankruptcy inspections and other special inspections. The team was set up at just the right time, considering the recession of the 1990s.
The economy of the late 1980s, and especially of the early 1990s, can be described as somewhat reckless. Corporate indebtedness, mainly through foreign currency borrowing, the continuous turbulent rise in prices, interest rates and values, as well as a devaluation of more than 30%, were factors that collapsed the economy into an unprecedented recession. This led to thousands of companies filing for bankruptcy and thereby to the redistribution of wealth, even to the point that some entities, traditionally regarded as institutions, disappeared from the map of our economic life. We have been involved in more than 2,000 special inspections. Among them are almost all billion-scale bankruptcies in Finland. Bankruptcy is a common economic phenomenon, and most of them occur as an inevitable consequence of changed circumstances.
The operations of Finnish companies in Estonia increased when Estonia became independent in 1991. We saw a need for an accounting firm that would understand Finnish company operations, which is why we established our subsidiary Tuokko OÜ in Tallinn in 1992. Tuokko OÜ currently employs 18 people.
In the mid-1990s, we started cooperating with Deloitte. The company was renamed Tuokko Deloitte & Touche Ltd. Our cooperation continued until 2001, when our company name was changed to Tuokko Auditing Ltd. Moreover, the auditing of EU institutions and EU project funding, which began in the 1990s, became part of our company operations. We spent five years as external auditors at the European Investment Bank, of which one year as chairman of the auditors. In this role, we also participated in EU funds audits in several member states, e.g. in the Netherlands, Austria, Sweden, Finland and Denmark.
Inspired by the experience in Estonia, the operations in Finland were expanded to include financial management outsourcing services in 2002. The two accounting firms acquired for the Group were renamed Tuokko Accounting Ltd. In 2003, our company made a generational handover. Yrjö Tuokko transferred the ownership of the company to his children Pia and Timo. The company name, Yrjö Tuokko Ltd, was changed to Tuokko companies Ltd in 2009. In the same year, we chose PFK International as our new international cooperation partner. Our cooperation continued until 2009.
In 2009 we started international cooperation with Praxity Global Alliance Ltd. Praxity is the world’s largest international alliance of independent audit firms operating in several countries. Praxity’s operations are truly global, extending from Europe all the way to North and South America. The alliance consists of over 850 member offices and more that 60,000 experts in over 110 countries. Praxity’s slogan “Truly Local, Totally Global, Trusted Advisers” reflects the fact that its representatives are among the best in their field. The International Accounting Bulletin (IAB) has awarded Praxity several times, most recently in 2019, when Praxity was named Association of the Year.
In 2013, Tuokko Accounting Ltd merged with Tuokko Auditing Ltd. At the same time, the company name was changed to Oy Tuokko Ltd. In addition, customer needs brought about new services, such as corporate responsibility reporting and information security and information system services.
In 2021, we are still a Finnish company whose decision-making and responsibility remain in Finland. We are closely monitoring developments in our field and expanding our range of services, as well as making extensive use of the expertise of our personnel in the expert services we offer. We will continue our internationalization, and in cooperation with Praxity, we will form a strong network in global market. In this way we can provide our customers with quick, proficient and confidential service at all times.
Praxity – Our global alliance
We provide international services in cooperation with Praxity Global Alliance Ltd. Praxity is the world’s largest international alliance of independent audit firms. The alliance consists of over 850 member offices and more than 60,000 experts. Member companies can provide customers with access to expert services around the world, as well as customized business solutions and detailed local knowledge in more than 110 countries. Praxity’s slogan “Truly Local, Totally Global, Trusted Advisers” reflects the fact that its representatives are among the best in their field.
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