Nokia 2015 Annual Report Download - page 206

204 NOKIA IN 2015
Auditor’s Report
To the Annual General Meeting
of Nokia Corporation
We have audited the accounting records, the nancial statements,
thereview by the Board of Directors and the administration of Nokia
Corporation for the year ended 31 December 2015. The nancial
statements comprise the consolidated statement of nancial position,
income statement, statement of comprehensive income, statement of
cash ows, statement of changes in shareholders’ equity and notes to
the consolidated nancial statements, as well as the parent company’s
balance sheet, income statement, statement of cash ows and notes
to the nancial statements.
Responsibility of the Board of Directors and the Managing Director
The Board of Directors and the Managing Director are responsible for
the preparation of consolidated nancial statements that give a true
and fair view in accordance with International Financial Reporting
Standards (IFRS) as adopted by the EU, as well as for the preparation
ofnancial statements and the review by the Board of Directors that
give a true and fair view in accordance with the laws and regulations
governing the preparation of the nancial statements and the
reviewby the Board of Directors in Finland. The Board of Directors
isresponsible for the appropriate arrangement of the control of the
company’s accounts and nances, and the Managing Director shall see
to it that the accounts of the company are in compliance with the law
and that its nancial aairs have been arranged in a reliable manner.
Auditor’s Responsibility
Our responsibility is to express an opinion on the nancial statements,
on the consolidated nancial statements and on the review by the
Board of Directors based on our audit. The Auditing Act requires that
we comply with the requirements of professional ethics. We conducted
our audit in accordance with good auditing practice in Finland. Good
auditing practice requires that we plan and perform the audit to obtain
reasonable assurance about whether the nancial statements and the
review by the Board of Directors are free from material misstatement,
and whether the members of the Board of Directors of the parent
company and the Managing Director are guilty of an act or negligence
which may result in liability in damages towards the company or
haveviolated the Limited Liability Companies Act or the articles
ofassociation of the company.
An audit involves performing procedures to obtain audit evidence
about the amounts and disclosures in the nancial statements and
thereview by the Board of Directors. The procedures selected depend
on the auditor’s judgment, including the assessment of the risks of
material misstatement, whether due to fraud or error. In making those
risk assessments, the auditor considers internal control relevant to
theentity’s preparation of the nancial statements and the review by
the Board of Directors that give a true and fair view in order to design
audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the eectiveness of
thecompany’s internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness
of accounting estimates made by management, as well as evaluating
the overall presentation of the nancial statements and the review
bythe Board of Directors.
We believe that the audit evidence we have obtained is sucient
andappropriate to provide a basis for our audit opinion.
Opinion on the Consolidated Financial Statements
In our opinion, the consolidated nancial statements give a true and
fair view of the nancial position, nancial performance, and cash
ows of the group in accordance with International Financial Reporting
Standards (IFRS) as adopted by the EU.
Opinion on the Company’s Financial Statements and the Review
bytheBoard of Directors
In our opinion, the nancial statements and the review by the Board
ofDirectors give a true and fair view of both the consolidated and
theparent company’s nancial performance and nancial position in
accordance with the laws and regulations governing the preparation
ofthe nancial statements and the review by the Board of Directors
inFinland. The information in the review by the Board of Directors
isconsistent with the information in the nancial statements.
Other Opinions
We support that the nancial statements and the consolidated
nancial statements should be adopted. The proposal by the Board of
Directors regarding the use of prot shown in the balance sheet is in
compliance with the Limited Liability Companies Act. We support that
the Members of the Board of Directors and the Managing Director
should be discharged from liability for the nancial period audited
byus.
Espoo, April 1, 2016
PricewaterhouseCoopers Oy
Authorised Public Accountants
Heikki Lassila
Authorised Public Accountant