Stora Enso sites uses cookies in order to provide you with the best user experience. You consent to the use of cookies by continuing the use of the site. You can change your browser settings at any time. For further information on cookies, please see our privacy and cookie policy.


Internal audit and auditors

Stora Enso has a separate internal auditing organisation. The role of Internal Audit is to provide independent, objective assurance and consulting services that add value and improve the group’s operations. Internal Audit helps the group to accomplish its objectives by providing a systematic, disciplined approach to evaluate and improve the effectiveness of internal control, risk management and governance processes.

To ensure the independence of the Internal Audit department, its personnel report to the head of Internal Audit, who reports functionally to the Financial and Audit Committee, and administratively to the CFO. The Financial and Audit Committee approves the appointment of the head of Internal Audit following the recommendation by the CEO.

Internal Audit conducts regular audits at mills, subsidiaries and other Company units, implementing a risk based annual audit plan approved by the Financial and Audit Committee, including any special tasks or projects requested by management and the Financial and Audit Committee.
The AGM annually elects one auditor for Stora Enso. The Financial and Audit Committee monitors the auditor selection process and gives its recommendation as to who should serve as auditor to the Board for the purpose of making the proposal to the shareholders at the AGM. The auditor shall be an authorised public accounting firm, which appoints the responsible auditor.

In 2017 the Company conducted a statutory audit tender process in accordance with applicable EU regulation with view of the proposal to be made to the AGM in 2018 regarding the auditor election as the current auditor of the Company had served since 2008. During the audit tender process, the Financial and Audit Committee has carefully assessed and considered several good and qualified auditor candidates and evaluated the candidates against a variety of customarily used selection criteria communicated to the candidates. The Board has on the recommendation of the Financial and Audit Committee proposed that PricewaterhouseCoopers Oy be elected auditor by the AGM 2018.
Remuneration in 2017
  • Audit fees EUR 4.0 million
  • Other fees EUR 1.0 million​