Exel Composites Annual General Meeting 2018 elected Ernst & Young, Authorized Public Accountants, with Antti Suominen, APA, as principal auditor.

The fees paid to the auditors for audit services totaled EUR 168 (149) thousand and for non-audit services EUR 64 (71) thousand in 2017.

The Company has one auditor that shall be an audit firm referred to in the Auditing Act with a KHT certified auditor acting as the auditor with principal responsibility. The auditor's term of office ends at the close of the first Annual General Meeting following election.

Ultimate responsibility for accounting and financial management lies with the Board. The auditor gives a statutory report to the shareholders in connection with the closing of the company accounts each year. The purpose of the auditing process throughout the year is to ensure that the financial statements give a true and fair view of the Group's financial performance and status during the financial year. Foreign subsidiaries are included in the yearly audit programs.
The Board meets the auditor at least once a year.

Apart from this, the auditor carries out supervisory audits as he deems necessary and as agreed on with the Company. 


Updated 22 March 2018

Exel Composites Oyj, Vantaa head office, Mäkituvantie 5, FI-01510 Vantaa, Finland