Number of auditors and duties
According to its Articles of Association, Telia Company AB shall have no less than two and no more than three auditors and no more than the same number of deputy auditors. The Annual General Meeting can also appoint only one auditor, if the auditor in question is a public accounting firm. The auditors’ report to the shareholders at General Meetings.
The duties of the auditors include:
- Presenting the planning, scope and content of the annual audit to the Audit and Responsible Business Committee
- Audit of the financial statements which amongst other includes assessment of accuracy, completeness of the accounts and adherence to applicable financial reporting standards and review of internal controls over financial reporting
- Audit of the Board’s and the CEO’s administration of the company
- Conducting a statutory examination of this Corporate Governance Statement
- Presenting non-audit services performed, the consideration paid and other issues determining the auditors’ independence to the Audit and Responsible Business Committee
Besides the audit report submitted to the shareholders at each Annual General Meeting, the auditors also issue a review report on the second-quarter consolidated financial statements. The auditors report procedures performed in relations to the review of Telia Company’s financial statements quarterly to the Audit and Responsible Business Committee and Group Executive Management and, in November each year, report on internal controls within financial reporting and IT. For further information on the contacts between the Board and the auditors, see sections “Board of Directors” and “Internal controls over financial reporting”, respectively.
Current auditors and fees
At the Annual General Meeting 2017, Deloitte AB was elected as auditor until the end of the Annual General Meeting 2018. Deloitte AB has appointed Jan Nilsson (born 1962), Authorized Public Accountant, to serve as auditor in charge. Deloitte AB is often engaged by Telia Company’s largest shareholder, the Swedish State, for both audit and advisory services. Jan Nilsson does not hold any shares in Telia Company.
For information on fees paid for audit-related and other services, see Note C32 to the consolidated financial statements.