Nokia 2005 Annual Report Download - page 131

The following table presents the aggregate fees for professional services and other services
rendered by PricewaterhouseCoopers to Nokia in 2005 and 2004.
2005 2004
(EUR millions)
Audit Fees(1) ............................................... 5.3 4.2
Audit-Related Fees(2) ........................................ 1.0 1.0
Tax Fees(3) ................................................ 5.9 5.0
All Other Fees(4) ............................................ 0.1 0.3
Total ..................................................... 12.3 10.5
(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 independent
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 2005 include EUR 1.4 million of accrued audit fees for
the 2005 year-end audit that were not billed until 2006; 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.
(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 independent auditor, and include consultations
concerning financial accounting and reporting standards; internal control matters and services
in anticipation of the company’s compliance with Section 404 of the Sarbanes-Oxley Act of
2002; advice and assistance in connection with local statutory accounting requirements; due
diligence related to acquisitions; 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 company establishment, forensic accounting and
occasional training services and, in 2004 only, for advisory services in connection with the
outsourcing of an operational process and forensic accounting related to internal
investigations.
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
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