Nokia 2008 Annual Report Download - page 137

The following table sets forth the aggregate fees for professional services and other services rendered
by PricewaterhouseCoopers to Nokia in 2008 and 2007 in total with a separate presentation of those
fees related to Nokia and Nokia Siemens Networks.
Nokia
Nokia Siemens
Networks Total Nokia
Nokia Siemens
Networks Total
2008 2007
(EUR millions)
Audit Fees
(1)
......................... 6.4 13.1 19.5 5.3 12.7 18.0
AuditRelated Fees
(2)
.................. 2.4 5.0 7.4 3.6 24.3 27.9
Tax Fees
(3)
.......................... 3.8 3.0 6.8 5.0 2.3 7.3
All Other Fees
(4)
...................... 0.7 — 0.7 0.2 — 0.2
Total .............................. 13.3 21.1 34.4 14.1 39.3 53.4
(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 independent auditor
reasonably can provide, and include the provision of comfort letters and consents in connection
with statutory and regulatory filings and the review of documents filed with the SEC and other
capital markets or local financial reporting regulatory bodies.
(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; advice on tax accounting matters; advice and
assistance in connection with local statutory accounting requirements; due diligence related to
acquisitions; financial due diligence in connection with provision of funding to customers, reports
in relation to covenants in loan agreements; employee benefit plan audits and reviews; and audit
procedures in connection with investigations and the compliance program implemented at Nokia
Siemens Networks related to the Siemens’ carrierrelated operations transferred to Nokia Siemens
Networks. The amounts paid by Nokia to PricewaterhouseCoopers include EUR 2.5 million and
EUR 23.9 million that Nokia has recovered or will be able to recover from a third party for 2008
and 2007, respectively.
(3)
Tax fees include fees billed for (i) corporate and indirect compliance including preparation and/or
review of tax returns, preparation, review and/or filing of various certificates and forms and
consultation regarding tax returns and assistance with revenue authority queries; (ii) transfer
pricing advice and assistance with tax clearances; (iii) customs duties reviews and advise;
(iii) consultations and tax audits (assistance with technical tax queries and tax audits and appeals
and advise on mergers, acquisitions and restructurings); (iv) personal compliance (preparation of
individual tax returns and registrations for employees (nonexecutives), assistance with applying
visa, residency, work permits and tax status for expatriates); and (v) consultation and planning
(advice on stock based remuneration, local employer tax laws, social security laws, employment
laws and compensation programs, tax implications on shortterm international transfers).
(4) All Other Fees include fees billed for company establishment, forensic accounting, data security,
investigations and reviews of licensing arrangements with customers and occasional training or
reference materials and services.
Audit Committee Preapproval Policies and Procedures
The Audit Committee of our 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”).
136