Tilintarkastuslakeja

Tilintarkastuslakeja is a legal framework that governs the activities of auditors in Finland. It is based on the Act on Auditing (574/2001), which outlines the responsibilities, duties, and professional standards that auditors must adhere to. The primary objective of the Tilintarkastuslakeja is to ensure the reliability and integrity of financial statements, thereby promoting transparency and trust in the financial markets.

Under this legislation, auditors are required to perform independent and objective assessments of an entity's financial statements. They must identify and evaluate the risks associated with the financial statements and determine whether they are free from material misstatements. Auditors are also responsible for expressing an opinion on the financial statements, which can be unqualified, qualified, adverse, or disclaimer of opinion.

The Tilintarkastuslakeja also establishes the role of the Finnish Financial Supervisory Authority (FIN-FSA) in overseeing the auditing profession. The FIN-FSA is responsible for licensing auditors, setting professional standards, and enforcing disciplinary actions against auditors who violate these standards. Additionally, the FIN-FSA conducts inspections and audits of auditors to ensure compliance with the law.

The Tilintarkastuslakeja is regularly updated to reflect changes in the financial landscape and to address emerging risks and challenges. It is designed to protect the interests of all stakeholders, including investors, creditors, and the public, by ensuring that financial statements are accurate, reliable, and transparent.