An auditor in Finland must be a natural person or an authorised firm of auditors. An auditor must have such knowledge and experience about accountancy, economic and legal affairs as well as auditing, as is necessary considering the nature and the scope of the activities of the corporation. A person lacking full legal capacity, in bankruptcy, or banned from business operations may not be elected as an auditor.
At least one of the auditors must be resident in European Economic Area or be a KHT or HT (an auditor authorized by the Chamber of Commerce) firm of auditors.
An entity is exempt from a statutory audit if two of the following criteria are met for the two previous financial periods:
A statutory audit must, however, be performed if the main business of the entity is the ownership and governance of financial securities or the entity has significant influence over the business or financing of another entity.