Probe on into Business Finland’s coronavirus funding

The economic affairs and employment ministry is examining the funding granted by Business Finland for business development following the situation created by the coronavirus outbreak.

The ministry’s internal inspection and audit division is responsible for the inspection, which is conducted by the audit firm BDO Audiator Oy, said an official press release.

The inspection focuses on two types of funding granted by Business Finland: preliminary funding and development funding for companies during business disruptions.

The purpose of the inspection is to determine whether the funding criteria are clear and well communicated.

The inspection also seeks to establish whether the processing of applications is appropriately conducted, and assesses the legal compliance of decisions, the grounds for awarding or refusing funding, the number of applications and processing time, and the purposes for which the funding is used.

The inspection launched by the ministry complements Business Finland’s own internal control and audit activities.

The final inspection report will be completed by 6 May, after which the ministry will provide more information.

The inspection follows controversies raised over the criteria of the state-owned Business Finland to grant the funding.

The debate deepened when an IT firm, Utopia Analytics, of Perussuomalaiset (Finns Party) Lawmaker Tom Packalén received a full grant of 100,000 euros.

The Office of the Chancellor of Justice also received complaints about the special coronavirus business support scheme run by the growth-promoting agency Business Finland.