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National Audit Office of Finland - News

22.2.2017: A Structural Balance Seminar 2-3 March 2017 in Helsinki

A Workshop on Structural Balance – Uncertainty of Potential Output and Policy Implications will take place on March 2nd–3rd 2017, in Helsinki, Finland. The event will be hosted by the National Audit Office of Finland.

This seminar will bring together some 30 professionals from a dozen of different national independent fiscal institutions (IFI members) around the Europe and from the top Finnish economic research institutions. Among participating IFI countries are Austria, Finland, Greece, Hungary, Italy, Latvia, Luxemburg, Malta, Serbia, Slovakia, Slovenia, and Spain. National experts will represent Ministry of Finance, The Bank of Finland, Research Institute of the Finnish Economy (Etla), Finland’s Economic Policy Council, and PPT Pellervo Economic Research.

Here are some of the topics which will be covered during the seminar:
• Assessment of the EC methodology for the measurement of potential output: alternative specifications and country experiences
• Alternative methodologies for output gap estimations
• Cyclical adjustment of budget balances, fiscal stance and policy implications
• Re-estimating budgetary semi-elasticity to alternative output gaps
• Tax revenue elasticities: micro and macro approaches
• Ex-post revisions of structural balances
• Rules-based fiscal policy

Further information available after the invitation only seminar from Jenni Jaakkola, Economist, National Audit Office of Finland,


14 Feb 2017: NAOF’s Scientific Council until 31 Dec 2018

National Audit Office of Finland’s Scientific Council has 11 members:

  • Advisor to the Board of the Bank of Finland, Lauri Kajanoja (economics)

  • Postdoctoral researcher Ida Koivisto, University of Helsinki (law)
  • Senior Adviser for Regulatory Impact Analysis, Antti Moisio, Prime Minister´s Office Finland (economics)
  • Professor Olli Mäenpää, University of Helsinki (law)
  • Professor Jukka Mähönen, University of Turku and University of Oslo (law)
  • Professor Vuokko Niiranen, University of Eastern Finland (administrative science)
  • Professor Lasse Oulasvirta, University of Tampere (public sector accounting)
  • Professor Jukka Pirttilä, University of Tampere (economics)
  • Professor Antti Ripatti, University of Helsinki (economics)
  • Project Director, Adjunct Professor, Petri Virtanen, The Finnish Innovation Fund Sitra, (administrative science and public financial management)
  • Professor Markku Wilenius, University of Turku (futures studies)

The Scientific Council serves as a network of experts from which the NAOF can request opinions, comments and training in matters concerning the development and assessment of the audit, evaluation and monitoring of central government finances. 

Additional information >

18 January 2017: The Government is proposing changes to Fiscal Policy Act

The Government is submitting for approval by the President of the Republic of Finland a bill under which two sections of the Fiscal Policy Act (869/2012) will be amended. The purpose of the amendments is to strengthen the implementation of the Fiscal Compact at national level. Both amendments will also have an impact on the fiscal policy evaluation task of the National Audit Office of Finland (NAOF).

The amendment concerning the Government's reporting obligation in connection with the correction mechanism must be taken into account when NAOSF supervises compliance with the act. The other amendment has direct relevance to the evaluation task of the NAOF. It obliges the Government to issue a separate public statement if it disagrees with the NAOF in a situation where, in the National Audit Office's opinion, the Government is in non-compliance with the Fiscal Policy Act. Under the Fiscal Compact, a Member State must take into consideration the assessments of the evaluation body (in Finland, NAOF) or explain publicly why its views were not taken into consideration.

16 January 2017: VTV Nyt! Good governance - resource of the future


On Monday 16 January 2017, the National Audit Office of Finland (NAOF) held its first stakeholder event of the year. The focus was on the role of good governance.

Nearly 100 participants attended the event. They included senior financial officials from ministries, internal auditors from central government agencies, members of the association of central government auditors, as well as representatives of the State Treasury, Valtori and the Finnish Government Shared Services Centre for Finance and HR.

The event was addressed by NAOF's Auditor General Tytti Yli-Viikari, Deputy Auditor General Marjatta Kimmonen, Senior Director for Financial Audit Väino Viherkoski, Financial Audit Counsellor Pekka Ihalainen and Director for Financial Audit Jaakko Eskola. Pasi Leppänen, head of internal services in the public sector at Ernst & Young, addressed the event as the guest speaker. In his speech, Leppänen discussed good governance and internal control. Other themes at the event included internal control and resources, digitalisation and legislation as well as the Kiti project and regional government reform.

“The purpose of the event was to bring together parties and individuals that with their own work are creating and promoting good governance. In this respect, the event was a great success. At the same time we also had the chance to share experiences and formulate common views on good governance and good internal control,” Kimmonen explains.

During the event, the participants also discussed the topic on Twitter (with a hashtag #VTVNyt; all tweets only in Finnish).

The purpose of the VTV Nyt! (in English NAOF Now!) events is to make the audit work and expertise of the NAOF more widely known in central government.

National Audit Office of Finland audit the state's finances, monitor and evaluate fiscal policy and oversee election and party funding. We operate in affiliation with the Parliament as Finland's Supreme Audit Institution.Through our independent audit work we ensure that public funds are spent according to Parliament's decisions, in compliance with legislation and wisely and that fiscal policy is exercised in a sustainable manner.

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