Auditing and accounting

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

SkatteInform is a state-authorised auditing company with extensive experience in auditing and reporting financial statements. We conduct audits, reviews and extended reviews for all types of customers and industries for small and medium-sized businesses. We audit not only joint-stock and joint-stock companies, but also non-profit and voluntary associations and independent companies. We also assist with assistance declaration for those customers who want this. We go a long way to maintaining the high quality, regardless of what statement the customer wants in the annual report. It is therefore important that the entries in the accounts are reconciled and documented, even if only a statement of assistance has been made. In addition, we have expertise in tax and corporate tax law.

Accounting that creates value

At SkatteInform, you get an 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 in the preparation of the management report as well as the preparation of the minutes of the general meeting. As a customer, you will receive an informative internal accounting, which is mainly used by the company itself, the bank and related partners, in which more information is provided in the annual report than is required by law. We offer an annual financial meeting where we review the company's annual report with management.

We make a great deal out of being in close contact with our customers and having a really good knowledge of each company. This insight is precisely the basis for us to continuously provide financial advice and offer sparring about the company's affairs. At the same time, the close contact ensures that we can provide the customer with concrete and useful advice, based on knowledge of the company's challenges and opportunities.

Auditing that creates value

With a statement of assurance from SkatteInform, you will give your annual report the credibility required by the outside world. We focus not only on the statutory audit, but also on task areas that we encounter in carrying out the audit, which can create value for the company. We gain a good knowledge of the company — this can contribute to the optimization of processes or advice on appropriate internal controls, etc.

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 Statement of Assurance gives the green light for investors and creditors to act in confidence that the companies' financial statements are fair. Overall, auditing brings confidence and better business conditions.

When does auditing become a requirement?

There are statutory audits and voluntary audits. Statutory auditing is a requirement of 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:

• 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.

Especially about holding companies

Holding companies holding interests in either subsidiaries or associates shall apply the calculation rules for group accounting obligations when assessing whether they can opt out of audit. This means that a holding company, in relation to the three sizes mentioned for balance sheet total, net turnover and average number of employees, must be viewed together with subsidiaries and associates. There are two methods for determining whether a holding company meets the size limits for opting out of auditing. It is optional which method is used. The methods follow Section 110 (2) and (3) of the Annual Accounts Act.

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

• 110, paragraph 3 - Calculation method like § 110, paragraph 2, but without elimination of internal 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 a proportionate ownership share is not taken into account in the calculation. Thus, 100% of the accounting figures of the shareholding will still be included in the basis for the calculation.

Contact Us

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

If you wish to be contacted by SkatteInform Statsautoriseret Revisionpartnerselskap, 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 in order to respond to your enquiry as best as 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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