Nokia 2004 Annual Report Download - page 119

The following table presents the aggregate fees for professional services and other services
rendered by PricewaterhouseCoopers to Nokia in 2004 and 2003.
2004 2003
(EUR millions)
Audit Fees(1) ............................................... 4.2 4.8
Audit-related Fees(2) ......................................... 1.0 0.9
Tax Fees(3) ................................................ 5.0 6.0
All Other Fees(4) ............................................ 0.3 0.7
Total ..................................................... 10.5 12.4
(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 and
the review of documents filed with the SEC and other capital markets or local financial
reporting regulatory bodies. The fees for 2004 include EUR 0.8 million of accrued audit fees for
the 2004 year-end audit that were not billed until 2005; the fees for 2003 include EUR 0.2
million of accrued audit fees for the 2003 year-end audit that were not billed until 2004. The
audit fees for 2003 have been increased by EUR 0.2 million to include fees paid to
PricewaterhouseCoopers by our subsidiary, Nextrom, which fees were omitted from our prior
year’s disclosure.
(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; advice and assistance
in connection with local statutory accounting requirements; due diligence related to
acquisitions; and employee benefit plan audits and reviews; and miscellaneous reports in
connection with grant applications.
(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 and,
in 2004 only, for advisory services in connection with the outsourcing of an operational
process. Forensic accounting in 2004 mainly related to internal investigations; in 2003 it
related entirely 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
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