AUDITORS

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:

  • Updating the Board of Directors on the planning, scope and content of the annual audit
  • Examining financial statements to assess accuracy and completeness of the accounts and adherence to applicable financial reporting standards
  • Examining the Board of Directors’ and the President’s administration of the company
  • Conducting a statutory examination of this Corporate Governance Statement
  • Advising the Board of Directors of non-audit services performed, the consideration paid and other issues determining the auditors’ independence

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 submit a report on Telia Company’s financial statements quarterly to the Audit Committee and Group Executive Management and, in November each year, a 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.”

In addition, the auditors perform an annual limited assurance of the information presented in Sustainability Work and GRI Index.

Current auditors and fees

At the Annual General Meeting 2016, Deloitte AB was elected as auditor until the end of the Annual General Meeting 2017. 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 AB.

For information on fees paid for audit-related and other services, see Note C32 to the consolidated financial statements.