The main function of statutory auditing is to verify that Konecranes financial statements represent a true and fair view of the Group’s performance and financial position for the financial year, which is the calendar year. The auditor reports to the Board’s Audit Committee on a regular basis and is obliged to audit the validity of the Company’s accounting and closing accounts for the financial year and to give the General Meeting an auditor’s report. Konecranes auditors are elected by the AGM and will hold office until the end of the annual general meeting following the election. The same auditor with principal responsibility may not serve for more than seven (7) financial years.
Ernst & Young Oy, Authorized Public Accountants, has been the Company’s external auditor since 2006. Kristina Sandin served as Principal Auditor in 2017. Ernst & Young Oy and its affiliated audit companies received EUR 4,154,000 in fees for auditing Konecranes Group companies in 2017 and fees of EUR 601,000 for non-audit services.