Nokia 2003 Annual Report Download - page 103

The following table presents the aggregate fees for professional services and other services
rendered by PricewaterhouseCoopers to Nokia in 2003 and 2002.
2003 2002
EURm EURm
Audit Fees(1) ..................................................... 4.6 3.6
Audit-related Fees(2) ............................................... 0.9 1.2
Tax Fees(3) ...................................................... 6.0 6.7
All Other Fees(4) .................................................. 0.7 1.5
Total ........................................................... 12.2 13.0
(1) Audit Fees consist of fees billed for the annual audit of the company’s consolidated financial
statements and the statutory financial statements of the company’s subsidiaries. They also
include fees billed for other audit services, which are those services that only the external
auditor reasonably can provide, and include the provision of comfort letters and consents,
attestation services relating to internal controls and the review of documents filed with the
SEC. The fees for 2003 include EUR 0.8 million of accrued audit fees for the 2003 year-end
audit that were not billed until 2004; the fees for 2002 include EUR 0.8 million of accrued
audit fees for the 2002 year-end audit that were not billed until 2003.
(2) Audit-related Fees consist of fees billed for assurance and related services that are reasonably
related to the performance of the audit or review of the company’s financial statements or
that are traditionally performed by the external auditor, and include consultations concerning
financial accounting and reporting standards; internal control reviews; review of security
controls and operational effectiveness of systems; due diligence related to acquisitions; and
employee benefit plan audits.
(3) Tax Fees include fees billed for tax compliance services, including the preparation of original
and amended tax returns and claims for refund; tax consultations, such as assistance and
representation in connection with tax audits and appeals, tax advice related to mergers and
acquisitions, transfer pricing, and requests for rulings or technical advice from taxing
authorities; tax planning services; and expatriate tax compliance, consultation and planning
services.
(4) All Other Fees include fees billed for forensic accounting and occasional training services. Fees
billed for 2002 include EUR 0.9 million related to services provided by PwC Consulting prior to
its sale to IBM in 2002. All forensic accounting in 2002 and 2003 relates to Telsim; for more
information, see ‘‘Item 8.A.7 Litigation.’’
Audit Committee Pre-approval Policies and Procedures
The Audit Committee of Nokia’s Board of Directors is responsible, among other matters, for the
oversight of the external auditor subject to the requirements of Finnish law. The Audit Committee
has adopted a policy regarding pre-approval of audit and permissible non-audit services provided
by our independent auditors (the ‘‘Policy’’).
Under the Policy, proposed services either (i) may be pre-approved by the Audit Committee
without consideration of specific case-by-case services (‘‘general pre-approval’’); or (ii) require the
specific pre-approval of the Audit Committee (‘‘specific pre-approval’’). The Audit Committee may
delegate either type of pre-approval authority to one or more of its members. The appendices to
the Policy set out the audit, audit-related, tax and other services that have received the general
pre-approval of the Audit Committee, including those described in the footnotes to the table,
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