What’s new

We thank members of Parliament, public officials as well as all those interested in public finances and governance for the past year. Season’s Greetings and Happy New Year 2022!

In its plenary session on Monday, 20 December 2021, the Finnish Parliament elected Mr Sami Yläoutinen as the Auditor General of Finland and head of the National Audit Office of Finland. Yläoutinen received 134 votes. Yläoutinen's term of office begins on 1 January 2022 and ends on 31 December 2027.

Parliament has today decided to dismiss Tytti Yli-Viikari from the post of Auditor General of Finland. Director Matti Okko continues to serve as Deputy to the Auditor General at the National Audit Office of Finland (NAOF).

The National Audit Office (NAOF) emphasizes that it is important to adhere to the spending limits for central government finances. The NAOF has audited the functioning of the spending limits system and published its spring fiscal policy monitoring assessment.

The National Audit Office of Finland is currently chairing the WGEA - Working Group on Environmental Auditing.

Member states of the Monetary Union need rules to manage their public finances. A situation without any rules would probably be the worst option. However, there has been criticism of the existing EU rules. Could the EU change its fiscal rules so that they could make fiscal policy less pro-cyclical and enhance debt sustainability?

In the removal of incentive traps, unemployment, income, bureaucracy, and information traps should be examined as a whole. The expertise of the implementers and the existing knowledge base should be utilized as widely as possible in the legislative drafting.

The interest expenses paid by the state on central government debt in 2020 amounted to approximately EUR 900 million. It is crucial to further develop and assess the interest rate risk strategy. In order for crisis resilience to be improved, it is important to strengthen risk management and to invest in ICT and human resources.