Auditing Model

Our auditing principles are based on sound auditing practice which we specially adapt to the task and in accordance with our own experience. Our Auditing Model can be summed up as follows:

Ithe planning phase

An audit plan is produced based on the decisions of the auditors chosen and also on our own risk analysis. This takes into account experience from previous years and changes which have taken place within the company. The planning stage is of great importance to on-going work and, in order to produce a cost-effective audit, concentrates on essential matters and risk. Overarching planning is carried out by the auditors together, whereby a plan for scrutiny is established.

Ii the implementation phase

In accordance with good accounting practice an audit has two orientations. The first is an accounts audit, which means true accounts, internal checking and security in systems and routines. Here we emphasise the importance of true and goal-focused project accounting. The second is an administration audit, which is directed towards goal-fulfilment analysis, efficiency and also activity carried out in accordance with regulations, the Articles of Association and the provisions of legislation currently in force.

Iii summary and reporting, meetings and administration

Having carried out the audit, observations are summed up and communicated both orally and in a written report to the Board of Directors and the MD. We would stress that we consider easily understood, written documentation to be important for an efficient, rewarding audit.

Quality assurance

In order to guarantee a high standard in auditing work and in accordance with the quality scheme of the Association of Public Accounts [FAR], our company has a quality assurance system which can be summed up as follows:

Good training, which is constantly updated, is the cornerstone. The certified auditor has also passed the Auditors' Examination in addition to the requirements for certification. Our firm's staff constantly keep themselves in touch with new systems of regulations and developments in the profession, and they have an internal training scheme for certification. Auditing work is carried out in accordance with good auditing practice and our own company standards. Commission-linked checks are run internally through self-monitoring, such as double-checking of our members' work and the application of check lists (to be sure that all vital questions have been taken into consideration). In addition, care is taken that efficient working methods are used and that the right person carries out the commission (has the right knowledge).

Other services available

Consulting services

Our experience of auditing shows that there is often a demand for various consulting services in which case we are also ready to make available our combined experience and to apply our special competence where needed.

Training and other services

On-going information about current accounting and taxation matters can be continually provided through the news magazine Nytt från Revisorn [Auditing News]. On-going information can be offered to relevant staff in finance departments concerning essential points of legislation, regulations, provisions, etc. Since our motto is high quality, special expertise is brought in where necessary within the specific area concerned. The scope of our work can also include on-going, brief consultations which can arise in connection with auditing.