Regulations on authorization of accountants and
Date FOR 1999-02-08-196
Affairs Ministry
Published In 1999 517
Commencement 02/08/1999
Edited
FOR 2015-06-30-822
Changes
FOR-1993-12-01-1076
For
Norway
Legal
LOV-1993-06-18-109-§1, LAW-1993-06-18-109-§4, LAW-1993-06-18-109-§5, LAW-1993-06-18- 109-Article 6, LAW-1993-06-18-109-§11, LAW-1993-06-18-109-§12, LAW-1993-06-18-109-§13, LAW-1993-06- 18-109-§14, LAW-1956-12-07-1-§3, LAW-1956-12-07-1-§4
Promulgated
Corrected 01.11.2013 (EEA reference field)
Short Title
regulat. Authorisation of accountants
Chapter Overview:
I (§§ 1-1 - 6-2 - § 6.4)
II
Adopted by FSAN (now FSA) 8 February 1999 pursuant to the Act of 18 June 1993 no. 109 for authorization of accountants § 1, second paragraph, § 4, first paragraph. 5, § 12, first paragraph, § 13, § 14 and § 16 third paragraph, cf.. law of 7 December 1956 no. 1 on the supervision of financial institutions, etc. (Financial Supervision Act) § 3 second paragraph and § 4, first paragraph. 4.
EEA information: EEA Annex VII. 1 (Directive 2005/36 / EC as amended by Directive 2006/100 / EC, Regulation (EC ) no. 1430/2007, Regulation (EC) no. 755/2008, Regulation (EC) no. 279/2009, Regulation (EC). 213/2011 and Regulation (EC). 623/2012).
Changes: Amended by regulations March 21, 2001 no. 377, June 30, 2006 no. 871, 31 Dec 2007 no. 1812, 18 Dec 2009 No.. 1687, 18 Dec 2009 No.. 1726, February 24, 2010 No.. 240, January 9, 2012 No.. 61, November 29, 2012 No.. 1136, 14 January 2014 No.. 25, June 30, 2015 no. 822.
Corrections: 14/09/2010 (EEA reference field), 11/01/2013 (EEA reference field) .
I
Chapter 1. Authorization
§ 1-1. Education Requirements for authorization is required that the applicant has bachelor's degree in business administration or another higher level than bachelor's degree. Education must fulfill profiling topics in the recommended plan for the Bachelor in Business Administration - profiling accountant approved by the National Council for Economic-administrative education. Profiling courses shall include Norwegian rules on taxes, duties and jurisprudence. Documentation of education should show how the requirement for profiling subjects are met.
Masters in Accountancy, Bachelor's degree in accounting and audit, higher auditor courses (HRS) and three-year auditor education in accordance with previous curricula meet the educational requirements, notwithstanding the requirements of subparagraph.
If the studies mentioned in the first and second paragraph is completed more than three years ago, the applicant must also fulfill the continuing education requirements in § 4-1 for the last three years.
§ 1-2. Practice Requirements for authorization authorized accountant must have at least two years of relevant accounting practices, of which at least one year with a certified public accountant or certified public accountant company.
With relevant accounting practices meant accounting for bookkeeping and accounting legislation, including the execution of principal duties and preparation of statements and information for the principal that this should provide by law or regulation. The practice should include the preparation of at least one annual report under the Accounting and tax returns by tax law.
Audit Practice by chartered or certified accountant or certified auditing company, which performs audits by Auditors, equated with relevant accounting practices.
FSA may approve up to one year's practice of tax control of businesses, including control of whether the trader fulfills the law and regulations on accounting and tax area. The same applies to lecture at university and college courses as mentioned in § 1-1 first paragraph.
One year practice can not be less than 1600 hours. The practice must be built up over the past five years. FSA may in special cases approve older practice.
§ 1-3. Exemptions from the requirement for the CEO as a certified public accountant Certified public accountant company may have a general manager who is not a certified public accountant if the following conditions are met:
1.
Company shall not engage in activities other than accounting,
2.
Company must have at least 20 FTEs
3.
Company to have a professional manager for the accounting firm that is a certified public accountant,
4.
Professional manager should be employed by the company,
5.
Least one of the board members must be certified public accountant, and
6.
Company should have written policies for professional's tasks and reporting mm to the CEO.
Company which uses the exception in the first paragraph, or get an exemption under subsection, shall notify the FSA about who is the academic director and on the exchange of such training manager.
Housing Associations constituted under the law on 6 June 2003 no. 38 on bustadbyggjelag may be granted authorization as an accountant company unless made fulfills the conditions of this section, first paragraph. 3, 4 and 6. The same applies to law firms which it does business in pursuant to a license granted by the courts Act § 220. the provision in the second paragraph apply correspondingly in those cases.
Finanstilsynet may in special cases grant exemptions from the requirement that the chief executive is a certified public accountant.
§ 1-4. Authorization of accounting pursuant to Directive 2005/36 / EC on the recognition of professional qualifications (Professional Qualifications Directive) authorization as an accountant given to applicants with professional qualifications from other EEA States if the applicant:
1.
Have formal qualifications from another Member State where the profession is regulated, and qualification certificate showing that the applicant has a qualification level, as described in the Professional Qualifications Directive, Article 11, which at least corresponds to a level just below the level specified in § 1-1 or
2.
Has been an accountant for a period of at least two years during the last ten years, in a Member State where the accountancy profession is not regulated. Evidence of formal qualifications issued by authority of the Member State showing the Professional Qualifications level viewfinder is on, ref. Professional Qualifications Directive Article 11, and stating that he is suitable as an accountant, must be enclosed with the application. The requirement of two years' professional practice does not apply if the submitted qualification documents showing that the applicant has a statutory education as defined in Article 3. 1 letter e) at the levels of qualifications described in Article 11 letter b), c), d) or e )
3.
Satisfying the requirements of the Accounting Act § 4, first paragraph. 2-5.
FSA may require that the applicant conducts an aptitude test if:
A)
qualification evidence shows that the training period has been at least one year less than that required in § 1-1,
B)
education that the applicant has undergone, not essentially covers those topics than those set out in § 1-1, or
C)
applicant's operations in Norway may include services that are not offered in their home state.
Aptitude Test is passed examinations in financial accounting, tax / tax law and jurisprudence by Norwegian college or university, equivalent requirements in the recommended plan for the Bachelor in Business Administration - profiling accountant approved by the National Council for Economic-administrative education as mentioned in § 1-1, first paragraph. Before FSA requires aptitude test should be considered if the applicant is deemed to have a professional experience that will wholly or partly remedy the inequities in education.
Accountant should have language skills that are necessary to carry on business in Norway. FSA may require documentation of sufficient language skills and may refuse the start of operations until such language skills are documented.
If FSA has not finished processing the application within four months after the required documentation is submitted, the application shall be deemed denied.
§ 1-5. Access to temporary and in isolated cases to provide accountant services in Norway pursuant to Directive 2005/36 / EC on the recognition of professional qualifications (Professional Qualifications Directive) Service providers that are legally established in another Member State and who moves to Norway may temporarily and in individual cases exercise services as discussed in the Accounting Act § 2, first paragraph in Norway without authorization from the FSA. The same applies to service providers established in another Member State where accounting activity is not regulated by law if he has pursued the profession for at least two of the last 10 years in this country, cf.. Professional Qualifications Directive Article 5. 1 letter b). The condition of two years' professional practice is not applicable when the program leading to the profession is regulated.
Before service begins temporary activity shall notify service and documentation to the Financial Supervisory Authority in accordance with the Professional Qualifications Directive Article 7.
Service shall operate in accordance with the provisions of and pursuant to law and in accordance with Generally Accepted Accounting Principles. Service Provider shall use the professional title in establishing the country in its activities in Norway.
Service Provider shall have the linguistic knowledge necessary to carry on business in Norway. FSA may require documentation of sufficient language skills and may refuse the start of the temporary business before such language skills are documented.
§ 1-6. Procedural rules for completion of service law for the application for authorization as an accountant and authorization of accountancy firms should procedural deadline mentioned in the Services Act § 11 first paragraph, be three months.
Service Act § 11 subsection that a permit is considered granted when procedural deadline has expired, does not apply to an application for authorization as an accountant and authorized accountants company.
Chapter 2. Accountants
§ 2-1. Details of chartered accountants Accountant register shall contain the following information about authorized accountants:
1.
Name registered in the National Register
2.
Address registered in the National Register
3.
National identity
4.
Date of authorization and cancellation of authorization
5.
Information concerning the authorization is revoked or suspended.
§ 2-2. Information on authorized accountancy firms Accountant register shall contain the following information about authorized accountancy firms:
1.
Company name registered in the CCR
2.
Company's business address registered in the CCR
3.
Organization
4.
Date of authorization and cancellation of authorization
5.
Information concerning the authorization is revoked or suspended
6.
Disclosure of names and identification numbers for the general manager, or professional leader.
§ 2-3. Information from Accountants Everyone has the right to obtain information from Accountants. For other than public authorities, this shall apply no information about national identity as mentioned in § 2-1, Nos. 3 and § 2-2 No.6.
The right to disclosure of information does not apply to information about an accountant who is dead. FSA may grant exemptions from this.
§ 2-4. Deletion of information in Accountants Information in Accounting records shall be erased after 10 years accountant's death, recognizes the company is dissolved or the authorization is revoked.
§ 2-5. (Repealed from 1 July 2006, cf. Regulations 30 June 2006 No.. 871.)
Chapter 3. Exercise of Accounting Firms
§ 3-1. Information and notification requirement and obligation to abdicate mission Accountant shall ensure that it is sent a message to the Entities when accountant undertakes missions and upon termination of the mission.
Accountant obliged to provide information to new accountant on factors that indicate that a new accountant should not accept the appointment if new accountant ask about this.
If the principal material breach of its obligations under the assignment agreement, so that accountants are unable to produce or provide the basis for the agreed statutory reporting duties accountant to withdraw from the assignment.
§ 3-2. Documentation of assignment accountant should be able to document what is done for each client. A copy of the letter and other correspondence with the client in which the accountant noted defects must be available.
Documentation mentioned in the first paragraph shall be retained for 10 years after the end of the fiscal year. The accounting firm copies of periodic financial statements and reconciliation documentation need not be stored longer than two years after the end of the fiscal year.
Documentation must be retained in accordance with regulations on 1 December 2004 no. 1558 on accounting § 7-1 and § 7-2.
Chapter 4. Continuing education
§ 4-1. Requirements for continuing education Certified Public Accountant shall at all times be able to prove at least 77 hours of continuing education during the preceding three calendar years. The periodic training must include at least:
1.
21 hours Financial Statements which at least seven hours in accounting regulations
2.
21 hours Tax Law / Tax Law
3.
14 hours courses from the Accounting regulations and good accounting practices
4.
7 hours jurisprudence.
Up to 14 hours may be obtained for courses referred to in paragraph. 1 to 4, or by compulsory courses included in the plan for the Bachelor's Degree in Business Administration adopted by NRØA.
One lesson equals at least 45 minutes.
Accountant should conduct periodic training by:
1.
Attend training courses arranged by professional organizers,
2.
Pass the exam at the university or college where one credit is equivalent to four hours of continuing education. The same applies if the accountant can prove to have attended at least 75% of the teaching program to such an examination.
To lecture courses or teaching subjects mentioned in the fourth paragraph count on equal footing with participation.
Upon termination of maternity leave beyond six months, extended the deadline in the first paragraph by one year. FSA may in other special cases grant deferment of periodic training on application or accept that this decrease.
§ 4-2. Documentation of training accountant must at diploma or equivalent documentation must present a combined statement of how the continuing education requirements are met. The documentation shall at least specify:
1.
Names of whoever organizes the course
2.
Subject area
3.
Brief description of the course content
4.
Course date and duration.
Accountant must keep documentation showing that the requirement for required continuing education are met for the preceding six calendar years.
Fulfilment of continuing education must be documented as of the fourth year after the accountant got his authorization.
§ 4-3. (Repealed from 1 July 2006, cf. Regulations 30 June 2006 No.. 871.)
Chapter 5. Exemptions from the authorization requirement
§ 5-1. The consolidated and affiliated companies in the consolidated relationship can accounting for other Group companies exercised by one of the group companies regardless of the provision of the Accountants Act § 1, first paragraph. The same applies to enterprises where ownership is of essentially the same character as a group relationship.
The provision in the first paragraph shall apply mutatis mutandis for cooperative enterprise in which public accounting emerges as a natural part of the collaboration. The assessment shall be placed on cooperation duration, nature and scope. The accounting must constitute a minor part of the collaboration.
Chapter 6. Transitional rules
§ 6-1. Transitional rules education requirement as described in § 1-1 will first apply to applicants who are starting their education fall semester 2006. Applicants who can document having taken exams or to have been recorded on and started studies the spring semester 2006 or before, may within 31. December 2012 authorized by the requirements that applied under the provision before regulations 30 June 2006 no. 871 came into force.
Former chartered accountants who have voluntarily resigned from the Accountants before 1 July 2006 until 31 December 2009 obtain a new authorization as an accountant in accordance with the requirements of the former § 1-5 so this sounded before the entry into force of Regulation 30 June 2006 no. 871.
the deadline for documenting training as mentioned in § 4-2, ref. § 4-1 first and second paragraph, on 1 January 2010 for accountants authorized prior to 1 January 2007. the provision in § 4- 1 last paragraph shall apply mutatis mutandis.
Regnskapslag who have utilized the exemption in § 6-1 or § 6-2, as they sounded before the entry into force of regulations 30 June 2006 no. 871, can continue operating without certified public accountant until 31 December 2007. This provision apply correspondingly to employed persons by industry statistics customs have driven accounting activity pursuant to former § 4.6, however, that lawyers engaged in this kind of accounting must liquidate accounting by December 31, 2009. Financial Supervisory Authority may in special circumstances upon application extend the deadline to cease trading for lawyers.
§ 6.2 - § 6.4. (Repealed 1 July 2006, cf. Regulation 30 June 2006 no. 871)
Chapter 7.
II
This regulation comes into force immediately. From the same date, the Regulations of 1 December 1993. 1076 for authorization of accountants authorized by law for authorization of accountants.
