Shareholder right to question and approval of financial statements

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Right to question

The regulations and articles of association determine what is discussed separately at the general meeting. Typically, the consideration of the financial statements at the company's annual general meeting is preceded by a review by the CEO of the company's operations, the most important events of the financial year and the company's business. In particular, in connection with the consideration of the financial statements, shareholders have the opportunity to ask the CEO and the Board of Directors a fairly wide range of questions under their right to question under Section 5:25 of the Finnish Companies Act.



The annual general meeting must decide on the adoption of the financial statements. According to the Accounting Act, the financial statements always include a balance sheet, income statement and notes. The annual general meeting may also decide to postpone the approval of the financial statements to a further meeting in accordance with Section 5:24.2 of the Finnish Companies Act. The annual general meeting may also decide to postpone other matters belonging to the annual general meeting to a further meeting.

The adoption of the financial statements is one of the most important decisions of the annual general meeting. Without a confirmed financial statement, the general meeting cannot decide on the distribution of assets from the profit accumulated in the previous financial period. Section 13:3 of the Finnish Limited Liability Companies Act links the distribution of assets to the most recently confirmed financial statement.

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