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Legal: Nokia follows rules and recommendations of the Helsinki, New York, Stockholm and Frankfurt stock exchanges, where applicable. Nokias in bodily governance practices comply with the Corporate Governance Recommendation for Listed Companies sanctioned by the Helsinki Stock Exchange in celestial latitude 2003, effective as of July 1, 2004. Nokia has an internal audit function that acts as an independent appraisal function by examining and evaluating the adequacy and military capability of the comp boths system of internal control. Internal audit resides administratively within the CFOs organization and reports to the Audit Committee of the circuit card of Directors. The head of internal audit function has at completely times direct access to the Audit Committee, without involvement of the management. beneath the New York Stock Exchanges corporate governance itemization standards, listed foreign private issuers, like Nokia, must disclose any significant ways in which their corporate governance practices take issue from those followed by US domestic help companies under the NYSE tilt standards.

There are no significant differences in the corporate governance practices followed by Nokia as compared to those followed by US domestic companies under the NYSE listing standards, except that Nokia follows the requirements of Finnish integrity with respect to the approval of equity compensation plans. Under Finnish law, stock option plans require shareholder approval at the time of their launch. All other plans that include the lecture of come with stock in the form of newly issued shares or exchequer shares require shareholder approval at the time of the delivery of the shares or, if shareholder approval is granted through an authorization to the tabular array of Directors, no more than a maximum of five years earlier. The NYSE listing standards require that equity compensation plans be approved by a companys shareholders. Under Finnish law, stock option plans require shareholder approval at the time of their launch.... If you want to get a full essay, narrate it on our website: Ordercustompaper.com

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