Notice Of Approved Auditors ' Statements (Declaring The Notice)

Original Language Title: Bekendtgørelse om godkendte revisorers erklæringer (erklæringsbekendtgørelsen)

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Read the untranslated law here: https://www.retsinformation.dk/Forms/R0710.aspx?id=120487

Overview (table of contents) Chapter 1 preliminary provisions

Chapter 2 submission of declarations

Chapter 3 Criminal provisions

Chapter 4 the effective provisions of The full text of the Executive order on approved statutory auditors ' statements (declaring the notice)

Under section 16 (4) and section 54, paragraph 2, of law No. 468 of 17. June 2008 on approved Auditors and audit firms (revisorloven) shall be determined:

Chapter 1

Introductory provisions

§ 1. Auditor is public steward by submitting statements with assurance, required by law, or as is not exclusively intended for the task entity's own use. Similarly, by submitting opinions on management reports.

(2). Auditor must formulate declarations and opinions independent of the task gives and taking into account the fact that the recipients be expected normally to attribute significance when making decisions. The auditor should therefore consider all circumstances, unless they are immaterial for the purpose of the Declaration and the statement, and the second does not appear in the legislation, etc.

(3). Auditor must formulate declarations and statements in a clear and easily understandable language.

(4). Recipients is assumed in this order to be those individuals, companies and public authorities, etc., whose decisions are usually likely to be affected by the declarations and statements.

§ 2. By a company for the purposes of this Ordinance:





1) an annual report, annual accounts, consolidated accounts, an interim report, an interim financial report and a part-year con cern rain deposit in accordance with the Danish financial statements Act, as well as

2) another similar accounts, which are not covered by nr. 1, and which at least contains an income statement, a balance sheet and explanatory notes, and which serve a general purpose and addressed to a wide circle of users.





Chapter 2

Submission of statements

Audit reports on audited financial statements

§ 3. An audit report on a company's auditor's statement about the performed audit.

(2). If the annual accounts and the consolidated accounts have been revised, shall conclude an audit report in the annual report, which includes all the audit taxable portion thereof. If the annual report contains a management report, which has not been audited, the audit report also contain an opinion of the auditor referred to in article 6. § 5 (1) (8). 7.

(3). In the parent undertakings that bear a company within the meaning of § 2, nr. 1 or 2, and as presenting consolidated financial statements, must be given a common audit report for the financial statements and the consolidated financial statements. The rules laid down in articles 5 to 8 shall apply mutatis mutandis.

§ 4. It is agreed that the auditor shall make a declaration with security on one or more additional reports that are included in an annual report, the statements of the reports drawn up separately. Such declarations shall be drawn up in accordance with sections 13-16.

§ 5. The audit report shall include at least the following in this order:





1) An identification of the accounts, which are audited and what accounting conceptual framework, which is used for its preparation,

2) a mention of the auditor's responsibilities for the review, as well as a mention of the performed auditing, see. (2)

3) reservations under section 6, or information that the endorsement is without prejudice to regulation. (3)

4) a conclusion on the revision of the basic regulation. paragraphs 4 to 6,

5 additional information concerning conditions in the financial statements), see. section 7, paragraph 1,

6 additional information concerning other matters) of the basic regulation. section 7, paragraph 2, and

7) where management report is prepared, an opinion of the auditor whether the auditor's perusal of the management report, based on the performed audit of annual accounts and consolidated accounts, if any, have given rise to comments, see. paragraphs 7 and 8.





(2). In reference to the auditor's responsibilities, as well as of the performed audit should be informed about the purpose and nature of the audit standards applied in the review. It must be stated separately, if the review includes other than accounting.

(3). Is the endorsement without reservation, auditor clearly and highlighted set:» Revision has not given rise to any reservations '.

(4). In conclusion must be informed as to whether the financial statements are prepared in accordance with the law and any other requirements for financial reporting. Including must indicate whether or not the accounts, provided that it is required under the law or in other provisions, give a true and fair view of the company's assets and liabilities, financial position and profit or loss in accordance with the applicable accounting conceptual framework or satisfy other equivalent, general quality requirements.

(5). The conclusion must be either without reservation, without prejudice to or afkræftende of the basic regulation. (6). If the auditor is unable to express a conclusion on the accounts, shall be indicated in a separate section after section on ' Reservations '.

(6). A afkræftende conclusion contains information that the company does not meet the requirement that it must give a true and fair view of the company's assets and liabilities, financial position and profit or loss in accordance with the applicable accounting conceptual framework, or do not comply with equivalent, general quality requirements.

(7). The opinion about the management report must, if there is not consistent with the annual accounts or, where appropriate, consolidated accounts, and this is due to errors in the management report, which is not insubstantial, contain information about which any discrepancies remain. If the Auditor in addition become aware of significant errors and deficiencies in the management report, the opinion shall also include a description of it.

(8). The information referred to in paragraph 1, no. 7, must be specified in a separate section with the headline: ' opinion on the management report '.

(9). The audit report must be dated and signed by the statutory auditor has been selected to conduct the review. Where an audit firm is selected, the audit report shall be signed by the statutory auditor, to whom the audit is entrusted. Audit unit's name and Auditor's name and an indication of whether he is a chartered or certified accountant, see. However, paragraph 10, shall be clearly stated on the endorsement.

Paragraph 10. A statutory auditor who is approved in accordance with the Auditor General Act section 10, paragraph 1, shall specify the professional title, as the person concerned is eligible for approval under rules implementing European Parliament and Council directive on statutory audit of annual accounts and consolidated accounts.

§ 6. The auditor must audit report committal, if:





1) Auditor based on the audit evidence obtained, concludes that the financial statements contain material errors or omissions, or

2) auditor is unable to obtain sufficient and appropriate audit evidence to conclude that the financial statements are without significant errors.





(2). Reservations in accordance with paragraph 1 must always be taken when:





1) company does not meet the requirement that it must give a right we slow the image of the company's assets and liabilities, financial position and profit or loss in accordance with the applicable accounting conceptual framework, or it does not fulfil other equivalent, general quality requirements,

2) financial statements do not contain the required information or do not qualify for omitting required information, unless the missing information is unimportant,

3) uncertainty regarding the statement of the accounts or unusual circumstances that have influenced it, is not adequately illuminated,

4) accounts are made under the assumption of continued operations, but the Auditor considers that the precondition is not met,

5) conditions of importance for the accounts is not sufficient information for the Auditor,

6) auditor cannot express a conclusion on the part of the financial statements or financial statements as a whole, or

7) accounts, moreover, is not carried out in accordance with the law or any other regulations requirements for financial reporting.





(3). Take the auditor's reservations, this must be clearly stated in the audit report. The reservation must be specified in a separate section with the headline: ' Reservations '.

(4). Auditor in the audit report must clearly justify its reservations.

(5). Auditor should disclose if a reservation is of such crucial importance that it leads to the fact that the general Assembly should not approve the accounts.

§ 7. Auditor in the audit report must provide supplementary information on any matters in the financial statements as statutory auditor points without taking reservations.

(2). Auditor must always provide additional information, if the legislation of the posting and storage of accounting material has not been complied with, and the breach in question is not insignificant. There should also be separately provided complementary information of auditor has become familiar with during its work, and that gives a good reason to believe that members of management can incur liability or criminal liability for acts or omissions affecting the company, affiliated companies, business participants, vendors, or employees. Including must always be informed of violations of:






1) Penal Code Chapter 28 as well as fiscal, tax and subsidy legislation,

2) the company provided corporate legal or similar legislation, or

3) legislation on financial reporting issues, including whether the posting and storage of accounting material.





(3). Additional information must not substitute one reservation.

(4). Information referred to in paragraph 1 must be specified in a separate section with the headline: ' additional information concerning conditions in the company accounts ', while the information referred to in paragraph 2 must be specified in a separate section entitled "Additional information concerning other matters '.

§ 8. Is that in the report referred to the company, reference is made to specific records or notes in the accounts or to specific sections of a possible management report.

Statements on the review (review) of accounts

§ 9. A statement on the review (review) by a company shall include at least the following in this order:





1) An identification of the examined company

2) a mention of the auditor's responsibility regulation. (2)

3) a mention of the content of the exported review (review), including that audit is not carried out,

4) subject to the basic regulation. § 10,

5) a conclusion, see. paragraphs 3 and 4 and

6) supplementary information, see. § 11.





(2). In reference to the auditor's responsibility to be informed about the standards applied by the auditor's review (review).

(3). Auditor's conclusion must express whether the Auditor by his or her review (review) has become aware of circumstances which give reason to conclude that the financial statements do not give a true and fair view of the company's assets and liabilities, financial position and profit or loss in accordance with the applicable accounting conceptual framework or other equivalent, general quality requirements (limited security).

(4). The conclusion must be either without reservation, without prejudice to or afkræftende of the basic regulation. § 5, paragraph 5. If the auditor is unable to express a conclusion on the accounts, shall be indicated in a separate section after section on ' Reservations '.

(5). The Declaration must shall be dated and signed by the statutory auditor has been selected to conduct the review. Where an audit firm is selected, the Declaration shall be signed by the statutory auditor, to whom the examination is transferred. Audit unit's name and Auditor's name and an indication of whether he is a chartered or certified accountant, see. However, paragraph 6, shall be clearly stated on the endorsement.

(6). A statutory auditor who is approved in accordance with the Auditor General Act section 10, paragraph 1, shall specify the professional title, as the person concerned is eligible for approval under rules implementing European Parliament and Council directive on statutory audit of annual accounts and consolidated accounts.

§ 10. In the Declaration, the auditor must make reservations in the case, which follows from article 6, paragraph 1.

(2). Take the auditor's reservations, this must be clearly stated in the Declaration. The reservation must be specified in a separate section with the headline: ' Reservations '.

(3). In the Declaration, the auditor must clearly justify its reservations.

§ 11. In the Declaration, the auditor must provide supplementary information on any matters to which the statutory auditor points without taking reservations.

(2). Additional information must not substitute one reservation. The information must be specified in a separate section with the headline: ' additional information '.

§ 12. Is there in the Declaration referred to the company, reference is made to specific records or notes in the accounts or to specific sections of a possible management report.

Other declarations of security

§ 13. Other statements with auditor shall give security that are not covered by sections 3 to 12, will find the rules in articles 14 to 16 shall apply.

§ 14. A declaration with the security under section 13 shall include at least the following in this order:





1) An identification of the conditions which made Declaration (Declaration the subject) and a description of the declaring the task,

2) a mention of the auditor's responsibilities and the work performed, see. (2)

3) subject to the basic regulation. § 15,

4) a conclusion on the work performed, see. paragraph 3-5, and

5) supplementary information, see. § 16.





(2). In reference to the work performed must be reported on the declaring the task's purpose and nature. Including must be reported on widely used standards.

(3). In a statement the task with a high degree of certainty to be auditor's conclusion express, about declaring the subject gives a true and fair view or are prepared in accordance with the criteria used, the is rated or measured according to. In a statement the task with limited security auditor's conclusion must express whether the Auditor by the work performed has become aware of facts which give rise to the conclusion that declaring the subject does not give a true picture or not prepared in accordance with the criteria used, it is rated or measured according to.

(4). The conclusion must be either without reservation, without prejudice to or afkræftende of the basic regulation. (5). If the auditor is unable to express a conclusion on the declaring the subject, this is indicated in a separate section after section on ' Reservations '.

(5). A afkræftende conclusion contains information that the Declaration topic does not give a true picture or not prepared in accordance with the criteria used, it is rated or measured according to.

(6). The Declaration must shall be dated and signed by the statutory auditor is elected to make declarations to the task. Where an audit firm is selected, the Declaration shall be signed by the statutory auditor, to whom the task is entrusted to the declaring. Audit unit's name and Auditor's name and an indication of whether he is a chartered or certified accountant, see. However, paragraph 7, shall be clearly stated in the Declaration.

(7). A statutory auditor who is approved in accordance with the Auditor General Act section 10, paragraph 1, shall specify the professional title, as the person concerned is eligible for approval under rules implementing European Parliament and Council directive on statutory audit of annual accounts and consolidated accounts.

§ 15. In the Declaration, the auditor must make reservations, if the information is taken into account for the work done, is vitiated by substantial errors or missing or auditor is unable to obtain sufficient and appropriate evidence to conclude that declaring the subject is without significant errors. In addition, the auditor must make reservations, if uncertainty is not adequately illuminated, and this uncertainty is not insignificant.

(2). Take the auditor's reservations, this must be clearly stated in the Declaration.

(3). In the Declaration, the auditor must clearly justify its reservations.

§ 16. In the Declaration, the auditor must provide supplementary information on any matters to which the statutory auditor points without taking reservations.

(2). Additional information must not substitute one reservation.

Chapter 3

Criminal provisions

§ 17. Violation of section 1, paragraph 2, sections 3-12 and articles 14-16 is punishable by a fine.

(2). That can be imposed on companies, etc. (legal persons) criminal liability in accordance with the provisions of the criminal code 5. Chapter.

Chapter 4

Date of entry into force provisions

§ 18. The notice shall enter into force on the 1. July 2008.

(2). The provisions of § 1 (1), (2). PT., § 3, paragraph 2 2. section, section 5, paragraph 1, no. 7, and section 5, paragraphs 7 and 8, concerning the auditor's opinions on management reports shall enter into force on the 1. September 2008 and has effect for the fiscal year that begins on 1 January. September 2008 or later. Until then, see this notice mutatis mutandis to such management reports with the adjustments resulting from the fact that the management report is included as a part of the annual report of the audit liability, similar to the annual accounts and the consolidated accounts.
The Danish Commerce and companies Agency, 26. June 2008 Englev/Niels Henrik Lykke Jensen