Accounting

SkatteInform performs audits, reviews and extended reviews for all types of clients and industries

SkatteInform is a state-authorised accounting partnership company, with extensive experience in auditing, preparing, and submitting annual accounts. We carry out audits, reviews and extended reviews for all types of customers and industries for small and medium-sized companies. We not only audit joint-stock and limited liability companies, rather also independent companies, non-profit and voluntary associations. In addition, we assist with declarations of assistance for customers who want this. We take great care to maintain the high quality, regardless of which declaration the client wants in the annual report. Therefore, it important for the items in the accounts to be reconciled and documented; even if only a declaration of assistance has been submitted. In addition, we have expertise in tax and the Danish Corporation Tax Act.

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Accounting that creates value

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At SkatteInform, you receive accounting that creates value. We focus on your business. We check that the accounts comply with the requirements of the legislation. In this context, it is also natural to assist with the preparation of the management report as well as the preparation of the minutes of the general meeting. As a customer, you will receive informative internal accounting, which is mainly used by the company itself, the bank and related partners. In fact, more information is provided in the annual report than is required by law in order provide you with a clear picture of your company’s finances. Furthermore, we offer an annual financial meeting, where we review the company's annual report with management.

Being in close contact with our customers and having a thorough knowledge of each company is highly important to us. This insight is the basis we use to continuously provide financial advice, and offer honest and insightful opinions about the company's affairs. At the same time, this close contact ensures that we can provide our clients with concrete and useful advice; based on knowledge of the company's challenges and opportunities.

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Auditing that creates value

With an opinion from SkatteInform, you will give your annual report the credibility required by the tax authorities and the outside world. We focus not only on the statutory audit, rather also task areas that we encounter in carrying out the audit, which can create value for the company. Through our work, we gain a good knowledge of the company. This can contribute to the optimization of processes or advice on appropriate internal controls, etc.

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Are you considering voluntary auditing?

If your business wants better opportunities to obtain loans and credits, it may be a good idea to have your company's financial statements audited. This applies whether your company wants to borrow money from the bank, attract capital from investors, or have credit with your suppliers. Did you know that audited financial statements increase the credibility of your accounting information? For example, it can help lower interest rates on your overdraft. The opinion gives a green light to investors and creditors to act in confidence that the company’s financial statements are fair. Overall, auditing brings you both confidence and better business conditions.

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When does auditing become a requirement?

There are statutory audits and there are voluntary audits. Statutory auditing is a requirement by the laws of those companies that exceed the conditions below, and at the same time operate in accounting class B, C or D. If the entity is included in accounting class C or D, the starting point is audit.

A Class B entity may refrain from auditing its financial statements if, for two consecutive financial years at the time of the balance sheet, the entity does not exceed two of the following amounts:

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• a balance sheet amount of DKK 4 million
• net sales of DKK 8 million
• an average number of full-time employees of 12 during the financial year;

If two of the size limits are exceeded for two consecutive years, the company must have an audit of the financial statements for the fiscal year in which the size limit is exceeded the second time.

Holding companies

Holding companies holding interests in either subsidiaries or associate companies shall apply the calculation rules for group accounting obligations, when assessing whether or not they can opt out of an audit. This means that a holding company, in relation to the three sizes mentioned for the balance sheet total, net turnover and average number of employees, must be viewed together with subsidiaries and associate companies. There are two methods for determining whether a holding company meets the size limits for opting out of auditing. The method used to make this determination is optional. The methods follow Section 110 (2) and (3) of the Annual Accounts Act.

• Section 110,  (2) — Using this method, 100% of the shareholding, irrespective of the shareholding share, is recognised in the accounting figures of the holding company, and internal transactions and equalisation of shareholdings are fully eliminated in the balance sheet sum These figures are compared with the size limits to measure whether or not there is an audit obligation.

• Section 110, (3) – This     calculation method is similar § 110, paragraph 2, however it excludes the elimination of vinternal transactions. When using this option, the amount limits for balance sheet and turnover are increased by 20%. The combined figures for net sales and balance sheet amount are thus measured against size limits,     which are also increased by 20%.

Please note that proportionate ownership share is not taken into account in the calculation. Thus, 100% of the capital share's accounting figure must be included in the basis for the calculation.

Contact Us

You can always contact us and receive a free and no-obligation quote. We would like to talk about how we can help you, and the solutions you need.

If you wish to be contacted by SkatteInform State-Authorised Accounting Partnership, CVR no. 35394206, please use our contact form below. Your personal data will be processed in accordance with the General Data Protection Regulation. You will be contacted to respond to your enquiry in the best way possible.

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Disclaimer

‍The above information is for guidance purposes only, and we accept no responsibility for decisions made based on this information without prior individual advice. We accept no responsibility for errors or omissions.

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