Auditing

In Finland, matters concerning audit and auditors are regulated by the Auditing Act (459/2007) and the Auditing Ordinance, as well as by Ministerial Decrees. The Act contains provisions on e.g. authorisation and registration of auditors, auditor’s reporting, independence, secrecy, oversight and sanctions. More detailed regulations regarding the procedures in oversight bodies are included in the Auditing Ordinance. Ministerial Decrees consist of detailed authorisation requirements. The Auditing Act conforms to the law of the European Union. The Chamber of Commerce Act (878/2002) contains the basic regulation of the organisation and objectives of the Chamber of Commerce organisation.

There is a two-tier system of auditors in Finland:

  • auditors and audit firms approved by the Central Chamber of Commerce (KHT auditors and KHT audit firms) and
  • auditors and audit firms approved by a local Chamber of Commerce (HTM auditors and HTM audit firms).

Thus, the public oversight also consists of two levels. Auditors and firms of auditors approved by the Central Chamber of Commerce are under oversight of the Auditing Board of the Central Chamber of Commerce (AB3C), whereas auditors and firms of auditors approved by a local Chamber of Commerce are under oversight of the Auditing Committee of the local Chamber of Commerce.

More information about authorisation and supervision of auditors and audit firms in Finland (PDF, 54 Kt)

Statistics about authorised auditors in Finland (PDF, 152 Kt)

AB3C's strategy to cover the years 2010 to 2013 (PDF, 30 Kt)

AB3C's ethical rules (PDF, 27 Kt)

The composition of AB3C in 2010 (PDF, 9 Kt)

For further information please contact us .

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