tilintarkastuslain

Tilintarkastuslain is a legal framework in Finland that governs the conduct of auditors and the auditing process. It is part of the Finnish Accounting Act, which is the primary legislation governing accounting and auditing practices in the country. The law aims to ensure the reliability and transparency of financial statements, thereby enhancing the trust of stakeholders, including investors, creditors, and the public.

The Tilintarkastuslain outlines the responsibilities and obligations of auditors, including the requirement to perform independent and objective audits. It specifies the standards and procedures that auditors must follow to ensure the accuracy and fairness of financial statements. The law also addresses the independence of auditors, requiring them to maintain a high level of professional integrity and avoid conflicts of interest.

The Tilintarkastuslain also includes provisions for the disciplinary actions that can be taken against auditors who fail to comply with the law. This includes the possibility of fines and the revocation of their auditing license. The law is enforced by the Finnish Financial Supervisory Authority, which oversees the auditing profession and ensures that auditors adhere to the highest standards of professional conduct.

In summary, the Tilintarkastuslain is a crucial piece of legislation that ensures the integrity and reliability of financial statements in Finland. It sets the standards for auditing practices, protects the interests of stakeholders, and maintains the trust in the financial system.