Number of auditors and duties
According to its Articles of Association, TeliaSonera 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. In 2015, a review report was issued also on the third-quarter consolidated financial statements. To the Audit Committee and Group Executive Management, the auditors quarterly submit a report on TeliaSonera’s financial statements 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 2015, Deloitte AB was elected as auditor until the end of the Annual General Meeting 2016. Deloitte AB has appointed Jan Palmqvist (born 1962), Authorized Public Accountant, to serve as auditor in charge. Deloitte AB is often engaged by TeliaSonera’s largest shareholder, the Swedish State, for both audit and advisory services. Jan Palmqvist does not hold any shares in TeliaSonera AB.
For information on fees paid for audit-related and other services, see Note C32 to the consolidated financial statements.