Audit Services - University of Turku

… the Board of Directors and administration in accordance with the laws in force at the time, as well as other auditing services mentioned in this description of the subject of the acquisition. Auditing services may also include other so-called complementary services required by the University. The audit results in an auditor’s opinion (audit opinion, other assurance opinion, ISRS 4400 opinion or other opinion), report or report. 1. In accordance with Section 64 of the Universities Act, the Auditing Act applies to the provision of the audit of the University of Public Law. In accordance with Article 64 of the Law, the College shall appoint to the University the necessary number of auditors and deputy auditors provided for in the Regulations. At least one of the auditors shall be a JHT auditor or an audit firm, the principal auditor of which shall be a JHT auditor and at least one KHT auditor or an audit firm, the principal auditor of which shall be an KHT auditor. The term of office of the auditors will continue for the time being. The term of office of the new auditor shall end and the term of office of the new auditor shall begin at the end of the meeting of the University College deciding on the election of the new auditor, unless otherwise decided at the time of the election of the new auditor. According to Section 43 of the University of Turku's Articles of Association, the University College elects one Authorized Public Accountant and one JHT Auditor for the University. One of the above-mentioned auditors is required to be an audit firm. The auditors are elected for an indefinite term of office. The term of office of the new auditor shall end and the term of office of the new auditor shall begin at the end of the meeting of the University College deciding on the election of the new auditor, unless otherwise decided at the time of the election of the new auditor. The auditors submit the University's audit and submit the audit report to the University College by the end of April following the financial year. The University's financial position is described, for example, in the attached annual report and financial statements for 2025. 2. The University has a significant number of different complementary funding projects/projects that are funded from external sources, either public or private. The funding conditions may require an external and independent audit of the project/project. As a rule, the audits concern EU-funded projects as well as projects funded by the Academy of Finland and Business Finland Oy. The scope of the project's audit task depends on the terms and conditions of the financier and the financial value and duration of the project. On page 17 of the 2025 annual report, the volumes and increase in the share of complementary funding from 2020 to 2025 are shown. Correspondingly, the page shows, in particular, the volumes of EU-funded projects and changes in relation to other complementary funding in 2018-2025. The number of annual projects to be audited varies and, as a rule, depends on the year in which the project ends. In addition to this, the financial terms and conditions often also include audit points denominated in euro, which means that when expenditure reaches a certain amount of euro, the audit obligation becomes actualised. Checks must be carried out on the donor's amounts