Overview (table of contents)
The scope of the
Selection of audit firms for quality control and selection of quality inspectors
Agreement on implementation of quality control
Quality control Lantern
The exercise quality control and content
Quality reviewer follow-up on monitoring and reporting to the Accountant supervision
Auditor supervisory follow up on submitted declarations
Auditor supervisory oversight of quality control Lantern
Criminal, transitional and commencement provisions
The full text of the Ordinance on quality control and Accountant supervision company
Under section 34 (3) and section 54, paragraph 2, of law No. 468 of 17. June 2008 on approved Auditors and audit firms (revisorloven), as amended by Act No. 133 of 24. February 2009, fixed: Chapter 1 scope § 1. This Ordinance regulates the implementation of quality control in accordance with § 29 and Accountant supervision enterprise after §§ 34-36 of the law on the approved Auditors and audit firms (revisorloven).
Chapter 2 the selection of audit firms for quality control and selection of quality reviewers § 2. Auditor supervision shall organise the quality control in such a way that all audit firms, see. Auditor General Act section 13, paragraph 1, quality checked with a maximum of six years. Quality control must be carried out with a maximum of 3 years in audit firms that perform audit of accounts carried out at the premises of establishments covered by the statutory auditor article 21, paragraph 3.
(2). An audit company, through which no statements after auditor § 1, paragraph 2, and as every year before 15. January issue a faith and love declaration for commercial Agency accordingly, are exempted from quality inspection, unless the Auditor supervision decides otherwise.
§ 3. Auditor supervision may, of its own motion or at the request of the audit firms that are part of a network, see. section 7, paragraph 3, of the Ordinance on statutory auditors and audit firms approved independence, decide that all or part of these establishments are sampled for quality control in the same year.
(2). If an audit firm that is selected for quality control, in its ownership has other auditing firms, see. section 13 of the Act, the statutory auditor statutory auditor oversight of its own motion or on request decide that these other audit firms are sampled for quality control in the same year.
§ 4. Auditor supervision may decide that an audit firm shall be drawn for extraordinary or more frequent checks, if the inspectorate finds the existence of circumstances justifying this. In this case, the provisions of §§ 5-7 and § 22 (1) be waived.
(2). Auditor supervision may, at the request of Professional agency take an audit company to extraordinary control. In this case, the provisions of §§ 5-7 and § 22 (1) be waived.
§ 5. The auditing firms that are selected for quality control, informed no later than the 1. March on, that they must be quality checked in the current year.
(2). Audit activities and the associated Auditors should give the Auditor oversight and quality Reviewer access to carry out the studies that are necessary, and should ensure that supervision and quality the reviewer receives the information and the assistance they deem necessary in order to perform the quality control of the basic regulation. Auditor General Act section 29, paragraph 4.
§ 6. Auditor supervision shall notify the audit company, the quality inspector who is designated to quality control the company. This must, as far as possible, take place before the 1. April.
(2). If the audit company have a reasoned objections against the designated quality inspector shall inform the audit company Accountant supervision thereof within 14 days after receipt of the notification of the designation.
(3). If there are conditions, which means that the designated quality inspector cannot verify that audit company shall appoint Auditor oversight another quality inspector.
§ 7. Quality reviewer will be notified of the audit firms, as this is designated for the purpose of quality control that year. This happens, as far as possible, before 1 May 2004. April.
(2). Accountant supervision under no obligation to make an equitable distribution of cases among the reviewers, like supervision cannot guarantee a minimum number of cases or to all reviewers get cases.
(3). The reviewer should assess whether there has been any threats to his independence in accordance with the Auditor General Act Chapter 4 and rules issued thereunder, as well as assess whether he or she possesses the necessary professional competence in relation to the audit activities, as a quality reviewer should check. Where there are threats to the independence of the reviewer or reviewer does not have the requisite professional competence, must notify the reviewer to Auditor oversight within 14 days after the appointment.
(4). If the quality reviewer later notes that this is not independent or do not meet the conditions to perform the quality control reviewer must provide supervision and audit company in writing immediately. Supervision shall designate a new quality inspector to perform the quality control in the audit company. In this case, the provisions of §§ 5-7 and § 22 (1) be waived.
§ 8. Commercial agency may in specific cases, to designate other persons than those of Accountant supervision approved quality inspectors for quality reviewers, see. Auditor General Act section 35. In this case, the provisions of §§ 5-7 and § 22 (1) be waived.
(2). Business Agency can leave it to the Auditor oversight to conclude an agreement in accordance with articles 10-13, with a quality inspector designated pursuant to paragraph 1.
§ 9. Auditor oversight, where oversight can deem it necessary, even perform a verification visit or participate in an inspection visit, together with a quality inspector.
(2). Auditor oversight, where oversight can deem it necessary, appoint more than a quality inspector to perform quality control in a concrete audit activities or in a network.
Chapter 3 of the agreement on implementation of quality control of section 10. Quality reviewer enters into an agreement with Accountant supervision for each quality control, as a quality reviewer is appointed to perform. The agreement shall at least contain: 1) the size of the audit firm to be quality controlled, including the number of Auditors shall give statements with safety, number of office locations and the size thereof, as well as turnover and number of customers, which made statements after revisorloven § 1, paragraph 2, 2) the contents and scope of quality control, including the expected sample size, 3) who is chosen to perform the quality control, 4) the expected number of hours (for each participant) , 5) special conditions that have an impact on any of the above.
(2). When a quality inspector is appointed, he shall as soon as possible make contact with the audit activities, which must be checked in order to determine the quality of the information referred to in paragraph 1.
(3). The reviewer fills in and signs the agreement. No later than 14 days after the nomination of Accountant supervision quality reviewer shall submit the agreement, who shall approve and sign the agreement.
§ 11. Audit company to be quality controlled, confirms that the audit company actively contributes to the implementation of quality control. At the same time, to audit the audit company confirms the company is not aware of the circumstances that the quality reviewer is not independent or do not meet the conditions required to perform quality control.
§ 12. When the Auditor authority has signed the agreement, provide supervision quality reviewer and the audit company to be quality controlled, accordingly.
(2). In the absence of circumstances that Accountant supervision can not conclude the agreement, or later may terminate the agreement, shall appoint a new supervision quality inspector to perform the quality control. In this case, the provisions of §§ 5-7 and § 22 (1) be waived.
§ 13. Auditor supervision shall draw up guidelines for the form and content of the agreement.
Chapter 4 quality control Lantern § 14. Auditor supervision shall draw up lists of quality inspectors, who are authorized to carry out quality control of: 1) audit firms, where the majority of votes owned by chartered accountants 2) audit firms, where the majority of votes owned by certified public accountants, and which revises financial statements made by undertakings within the meaning of section 21 of the Act, paragraph accountant 3 3) audit firms, where the majority of votes owned by registered accountants 4) audit firms, where the majority of votes owned by registered accountants and as revised accounts carried out by undertakings within the meaning of section 21 of the Act auditor paragraph 3 5) The country economic counselling offices, associations that are associated with or operated under the Danish agriculture (2). For audit firms, which do not fall under paragraph (1), nr. 1-5, shall appoint Auditor supervision a supervisor who has the necessary competence to perform the task.
(3). Auditor supervision may appoint a quality controller from a different list than the list, which includes the type of audit activities.
(4). The lists are publicly available on the Auditor of the FSA website (URwww.revisortilsynet.dk).
§ 15. A certified public accountant, who wants to be a quality inspector, must apply to the Auditor the supervision thereof. Applications must be submitted electronically with digital signatures.
(2). As quality inspectors can be approved statutory auditor 1) registered in Revireg, 2) has participated in a course, see. § 16, 3) not within the last 5 years by Auditor Board (or Disciplinary Board for Chartered and registered Auditors) has imposed a warning or fine for breaches of the duties revisorloven prescribes, or is registered in the central register of criminal sentences, and Accountant supervision estimates that this has an impact on the performance of the duties of the quality inspector, 4) does not have a pending case before the Tribunal, as an auditor oversight Auditor assesses relevant to performance of the duties of the quality inspector , 5) not employed in an audit firm, as in the company's most recently completed quality control has been imposed on a renewed quality control Auditor oversight, and 6) have participated in practical audit work and, in connection therewith made statements after auditor § 1, paragraph 2, for at least three years within the last 5 years.
(3). As quality reviewers for audit firms which audit financial statements made by undertakings referred to in the Auditor General Act section 21, paragraph 3, can be approved Auditors, which in addition to comply with the requirements set out in section 15, paragraph 2, no. 1-6, have submitted declarations in accordance with the Auditor General Act, § 1, paragraph 2 of the accounts made by undertakings referred to in the Auditor General Act section 21, paragraph 3, for at least three years within the last 5 years.
(4). A registered accountant, employed in the country economic counselling offices, associations that are associated with or operated under the Danish agriculture, can only be approved as a quality inspector to control the audit firms as referred to in the Auditor General Act section 17, paragraph 1.
(5). If the application referred to in paragraph 1 are met, the recorder Auditor oversight, on the lists pursuant to section 14 of the current and the following calendar year, without prejudice to article four. Auditor General Act section 35 (1). The recording can be extended.
§ 16. A course under section 15, paragraph 2, no. 2, shall include a general part on quality assurance and quality management as well as a special part about supervision quality control.
(2). Particular emphasis is placed on 1) quality management systems in audit firms.
2) auditor's reporting.
3) workflow and declaring donations, including auditing standards.
4) Auditor Act of independence and ownership.
5) the requirements for the auditor's skills and resources.
6) Auditor Act rules on auditor oversight.
7) requirements for documentation of the auditor's work.
8) Auditor supervisory tasks on an ongoing basis.
9) the reviewer role and responsibility.
10) the practical implementation of the quality control process from the selection of the Inspector to the declaring donations.
11) Elaboration and examples on each of the elements in the process.
(3). Courses in accordance with paragraph 2 may be held by Accountant supervision itself or by external providers. External service providers shall in the course's holding in writing obtain supervisory approval of the proposed content of the course.
§ 17. Quality inspectors, appearing on the lists pursuant to section 14, must attend an annual course, the contents of which correspond to the in clause 16 provided for, as well as an annual meeting with Auditor General supervision, the purpose of which is to collect experiences from the implemented quality checks and draw attention to specific issues the appellants ' control. Non-participation leads to a quality inspector shall be excluded from inspection.
(2). Auditor supervision can determine that the participation in the annual course and meeting with supervision is not required.
§ 18. A quality inspector may at any time request to be removed from the lists pursuant to section 14. Deletion, however, may not happen until the quality reviewer has already completed the commitments control tasks, unless the Auditor supervision decides otherwise.
(2). If a quality inspector as a result of illness or in other special cases will be prevented from performing a påtagen control task, this must be communicated to the Auditor oversight and auditing company as soon as possible. Supervision decides about the quality control may be postponed to the following year or whether the control can be implemented through the appointment of a new high-quality inspector. In this case, the provisions of §§ 5-7 and § 22 (1) be waived.
(3). Quality reviewer has the obligation to immediately notify the Accountant supervision, if the reviewer be a warning or fine by the Board or Auditor shall be recorded in the central register of criminal sentences for breaches of the duties of revisorloven. Supervision will in this case consider whether the reviewer should be deleted from the lists pursuant to section 14.
Chapter 5 the exercise quality control and content of section 19. Advance quality reviewer the quality control, that person must start 1) inform company, what information must be given in advance of the controlled company 2) review the information received in accordance with paragraph 28. 1 before the verification visit and 3) schedule quality control task.
§ 20. In the performance of quality control quality reviewer shall in particular verify that 1) that the operator has the required quality system, 2) to the company's quality management system complies with good quality management practices, and are adequate in relation to the size and nature of the establishment, revision 3) that the company has an updated owner and member list, see. section 3 of Decree No. 662 of 26. June 2008 on audit activities, and to ejerbestemmelserne in the Auditor General Act section 13, paragraphs 2 to 5 are complied with, 4) to audit company has rules for management of independence in General and for any task, 5) to audit company showing that independence rules in Chapter 4 Auditor and rules issued thereunder are complied with, 6) to complete tasks after auditor § 1, paragraph 2, shall be in accordance with good auditor usage in Denmark, including the applicable auditing standards and that this can be documented, 7) the used resource extent, 8) the calculated fees in relation to declaratory task 9) about the audit company associated Auditors have reviewed the mandatory training in accordance with the Auditor General Act § 4 and rules issued thereunder, and 10) that the company has prepared sufficient written internal rules on customer due diligence, reporting to white wash the Secretariat, etc. in order to forestall and prevent money laundering and terrorist financing with the company's customers, without prejudice. the money laundering Act section 25 (1).
(2). The quality control of the basic regulation. (1) must include both the general procedures used in auditing company as a random review of concrete audit and assurance services. The random show selection of concrete audit and assurance services must proceed on the basis of a risk-based approach and in the nature and extent of the audit company.
(3). If the audit company, quality controlled, in its ownership has other auditing firms, see. Auditor General Act section 13, must, in the performance of quality control quality reviewer be aware of conditions in these other audit firms and their subsidiaries, if any, can be of importance for the evaluation of the war of independence.
(4). Auditor supervision shall draw up guidelines for the implementation and quality control quality reviewer statement and reporting for supervision.
Chapter 6 Quality reviewer follow-up on monitoring and reporting to the Accountant supervision section 21. Shortly after the end of the checks must draw up a declaration of quality the reviewer limited security.
(2). For performing quality checks of audit firms, which audit financial statements made by undertakings referred to in the Auditor General Act section 21, paragraph 3, also compiled a report. Supervision shall draw up guidelines for the form and content of the report.
(3). For quality checks performed by the Accountant supervision itself, see. section 9, shall be written up in a report. Quality inspectors designated by the ErhvervsstyrelsenErhvervsstyrelsenErhvervsstyrelsen of the basic regulation. § 8, paragraph 1, shall also set up and a report.
§ 22. As soon as possible and no later than the 15. November this year submit quality control reviewer its Declaration and report to the Auditor, if any, supervision.
(2). The statement should describe the nature and extent of the checks the object, and specify an evaluation of the results of the checks. The quality reviewer should including clear comment on whether the matters referred to in section 20 are complied with. If the Declaration contains reservations or additional information, including significant improvements, it should be clearly stated in the Declaration. The Declaration must contain a conclusion indicating whether audit undertaking complies with the requirements for an audit activities of the relevant species and size.
(3). A report made under section 21, paragraph 2, should also include an assessment of the content of the recently published transparency report, see. Auditor General Act § 27.
§ 23. If the quality reviewer shall, to quality control cannot be implemented, or only with great difficulty can be implemented, must immediately notify the Accountant supervision this quality reviewer. Inspectorate carries out a detailed analysis and assessment of the case and inform the approach to audit activities and informs about the possible consequences of that control is not implemented.
Chapter 7 Auditor supervisory follow up on submitted declarations § 24. Auditor supervision can ask for the information, the documents and the assistance that the Inspectorate considers necessary to carry out the quality control of the basic regulation. Auditor General Act section 29 (4) and section 35 (4).
§ 25. If the statement under section 21 contains reservations or additional information, the Accountant supervision decide whether 1) must be given a reprimand after Auditor General Act section 35, paragraph 5, no. 2, 2) must be given a reprimand with control visit after auditor § 35, paragraph 5, no. 3, 3) the case shall be brought before the Committee after auditor Auditor General Act section 35, paragraph 6, 4) proceedings shall be transmitted to the public prosecutor or other authorities, and 5) audit unit is to be ordered to change transparency report immediately, without prejudice to article. section 22 (3).
(2). Auditor supervision provides Professional Agency notice of violations in connection with the control of in section 20 (1). 3, 9 and 10 of the specified points. Auditor supervision also gives Professional agency information on other violations of corporate and accounting law.
(3). If the audit company does not follow the Accountant supervision order made relating to change transparency report immediately after paragraph 1, nr. 5, communicated this to the Professional Agency.
Chapter 8 Auditor supervisory oversight of quality control Lantern § 26. Auditor supervision must ensure that quality control Lantern performs quality control in accordance with revisorloven, rules issued thereunder, as well as guidelines that Auditor authority has drawn up pursuant to this order.
§ 27. Auditor supervision may require the quality reviewer shall submit to the supervision of the supervisor of his working papers and answering questions, and supervision may decide to participate in quality the reviewer visits or even carrying out the control of audit firms.
section 28. Auditor supervision can delete a quality inspector from the lists pursuant to section 14, if the reviewer does not submit its Declaration, report, working papers, etc. in a timely manner, and this does not happen within a period specified by the Accountant supervision. Article 18, paragraph 2 shall apply.
(2). If the Auditor believes that a quality supervision official has failed to fulfil its duties, supervision, after giving the person the opportunity to comment in writing, 1) give the person a written reprimand, 2) require that the person concerned is participating in one or more courses before the person can continue his work as a quality inspector, or 3) delete that from the lists of quality inspectors without prejudice to article. section 14, as well as decide to 4) introduces the question of Auditor Committee, or 5) refer the case to the Prosecutor's Office.
(3). If the Accountant supervision by the recently completed quality control has imposed on the audit activities, in which the quality reviewer is employed, a renewed quality control, supervision may decide that the quality reviewer should be removed from the lists of quality inspectors pursuant to section 14.
Chapter 9 Payment section 29. At the same time with the submission of the statement and any report to Auditor oversight must submit a statement of the following Reviewer: 1) The direct non-time per controller 2) The direct non-time and hourly rate for the other participants in the control task 3) Hours applied to transport 4) Attachment after Bill 5) explanation of any significant deviation in the actual number of hours used in relation to the expected number of hours , as specified in the agreement.
(2). Costs, see. Article 29, paragraph 1, shall be provided on a provisional basis of Auditor oversight, but held by the controlled company.
section 30. Auditor supervision shall determine annually one or more hourly rates, which apply to the in section 14, paragraph 1, referred to quality inspectors.
(2). If the reviewer has availed itself of other people through the implementation of control, reported that person's hourly rate, see. section 29 (1) (8). 2. This hourly rate cannot be higher than laid down in accordance with paragraph 1 hour price.
(3). In cases where Commercial Agency under section 8 has been appointed by persons other than an approved quality inspector to the quality supervisor, provided the total cost of Auditor oversight, but provisionally shall be borne by the controlled company.
Chapter 10 General provisions section 31. Auditor supervisory decisions after this Ordinance may not be brought before the higher administrative authority, see. Auditor General Act section 51, paragraph 3.
section 32. Auditor supervision guidelines pursuant to this order, as well as the lists of quality inspectors, are publicly available, see. § 14 (4).
section 33. Auditor supervision may decide that the time limits laid down in article 2, paragraph 2, sections 5 to 7 and § 22 (1) be waived.
Chapter 11 Penalties, transitional and commencement provisions § 34. Have a quality inspector grossly or repeatedly violated section 7, paragraph 3, or not complied with its obligations pursuant to §§ 19-23, he or she will be punished with a fine.
section 35. When a quality inspector is punished under section 34, Accountant supervision delete part of the lists pursuant to section 14.
(2). If a quality inspector is punished with a penalty of Auditor Board (or Disciplinary Board for Chartered and registered Auditors) for breaches of the duties, the law provides, or is registered in the central register of criminal sentences as a result of conditions that are deemed to have an impact on the performance of the duties of the quality inspector, Auditor oversight to delete part of the lists pursuant to section 14.
(3). Decisions on deletion shall be communicated to the Professional Agency.
§ 36. Quality reviewers, as by the entry into force of the Executive order is approved pursuant to bekendtgørelse nr. 42 of 23. January 2009 on quality control and Auditor supervisory activities, continues on the lists pursuant to section 14 for the calendar year 2011 and the four following calendar year.
section 37. The notice shall enter into force on the 22nd. June 2012 and apply to quality checks carried out after that date.
(2). At the same time repealed Executive Order No. 643 of 10. June 2011 on quality control and Auditor supervisory activities.
Business Agency, the 14. June 2012 Victor K/Mohamed Barfoed