According to the Articles of Association, UPM has one auditor which shall be a firm of authorised public accountants, whose lead audit partner is an authorised public accountant (KHT). The Annual General Meeting (AGM) elects the auditor and resolves on the auditor’s remuneration. The term of office of the Auditor shall be a financial period. The Board of Directors’ Audit Committee prepares the Board's proposal to the AGM for the company’s auditor and for the auditor's remuneration and recommends to the Board the election of the auditor.
Auditor
The AGM 2024 re-elected Ernst & Young Oy, a firm of authorised public accountants, as the auditor for the financial period 2025 with Authorised Public Accountant (KHT) Heikki Ilkka as the lead audit partner. The AGM 2025 re-elected Ernst & Young Oy as the auditor for the financial period 2026. The AGMs further resolved that the audit fees will be paid against invoices approved by the Board of Directors’ Audit Committee.
Sustainability reporting assurer
The Company shall also have one sustainability reporting assurer which shall be a sustainability audit firm approved by the Finnish Patent and Registration Office. The term of office of the sustainability reporting assurer shall be a financial period.
The AGM 2025 elected Ernst & Young Oy, a firm of authorised sustainability audit, as the sustainability reporting assurer for the financial periods 2025 and 2026 with the Authorised Sustainability Auditor (KRT) Heikki Ilkka as principally responsible sustainability reporting assurer. The election of the sustainability reporting assurer was made for the financial period of the election and the financial period commencing next after the election so that the term of office of the sustainability reporting assurer would be aligned with the term of office of the auditor in future.
The assurance fee EUR 0.3 million related sustainability reporting for the financial period 2024 is presented as a part of audit-related services in the table below.