Are you looking for a partner in auditing?
About to start a business in Finland? Or have you already started one? If so, are you looking for a reliable, local auditor as your partner? We have several years’ experience of international assignments for organizations of all sizes. Audits provide the management, owners and stakeholders of our client companies with certainty about the company’s financial situation. We become closely acquainted with the special features of your business and sector. This enables us to genuinely support your business activities in Finland, helping you to find the best solutions for everyday financial issues.
We can offer you service-minded expertise, with the aim of forming a long-term partnership. That is why we continuously develop and maintain our key asset – our skills and competences. We closely monitor developments and adapt nimbly to the ever-changing business environment. We will provide excellent service, react quickly to your needs and meet agreed timetables.
We provide our customers with a single contact person, who is a designated account manager supported by rest of our team. Our customers gain access to the versatile skills of our experts — throughout Finland, and globally via the international Praxity network. Experts from our taxation department will support you in complex issues involving Finnish taxation. In addition, our extensive auditing expertise is at your disposal in times of transition, such as during mergers and acquisitions.
When are audits statutory?
Audits are a statutory service in Finland. Audit provisions are mainly set out in the Auditing Act. According to Chapter 2, Section 2 of the Auditing Act, ‘an auditor shall be appointed for a corporation or a foundation and an audit shall be carried out’ when at least two of the following conditions are met in both the last completed financial year and the financial year immediately preceding it:
- the balance sheet total exceeds 100,000 euros
- net sales or comparable revenue exceeds 200,000 euros; or
- the average number of employees exceeds three.
A corporation may be audited even if the above conditions are not met. A corporation must carry out an audit if, for example, its articles of association, deed of partnership or rules include provisions regarding an audit or the appointment of an auditor.
A corporation or other body subject to an accounting requirement may decide, voluntarily, to have an audit carried out despite not meeting the above conditions, or despite an audit not being required by its articles of association, rules or another, similar document.
Our services in a nutshell
- Statutory audits
- Other audit assignments (statutory audits and audits for certification purposes)
- General advisory for corporations
- Advice on financial statements and consolidated financial statements
- IFRS guidance