Nokia 2010 Annual Report Download - page 182

ITEM 16B. CODE OF ETHICS
We have adopted a code of ethics that applies to our Chief Executive Officer, President, Chief Financial
Officer and Corporate Controller. This code of ethics is posted on our website,
www.nokia.com/board ,
under the heading “Company codes— Code of Ethics.”
ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES
Auditor Fees and Services
PricewaterhouseCoopers Oy has served as our independent auditor for each of the fiscal years in the
threeyear period ended December 31, 2010. The independent auditor is elected annually by our
shareholders at the Annual General Meeting for the fiscal year in question. The Audit Committee of
the Board of Directors makes a proposal to the shareholders in respect of the appointment of the
auditor based upon its evaluation of the qualifications and independence of the auditor to be
proposed for election or reelection on an annual basis.
The following table sets forth the aggregate fees for professional services and other services rendered
by PricewaterhouseCoopers to Nokia in 2010 and 2009 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
2010 2009
(EUR millions)
Audit Fees
(1)
.......................... 6.8 9.6 16.4 6.2 9.8 16.0
AuditRelated Fees
(2)
................... 1.3 1.2 2.5 1.2 1.6 2.8
Tax Fees
(3)
........................... 4.4 1.2 5.6 3.6 2.0 5.6
All Other Fees
(4)
....................... 0.1 — 0.1 0.3 — 0.3
Total ................................ 12.6 12.0 24.6 11.3 13.4 24.7
(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; SAS 70 audit of internal controls; 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
compliance programs.
(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;
(iv) consultations and tax audits (assistance with technical tax queries and tax audits and appeals
and advise on mergers, acquisitions and restructurings); (v) 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 (vi) consultation and planning
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