The investigation regarding auditors and auditing has now been concluded by a report, ”The abolition of the obligation of auditing for small enterprises”. (Avskaffandet av revisionsplikten för små företag), SOU 2008:32.
The proposals contains inter alia the following
- Only large enterprises need to have an authorized (auktoriserad) or approved (godkänd) auditor. This of course applies to the quoted companies and enterprises within the financial sector as well as enterprises fulfilling more than one of the following conditions
- more than 50 employees,
- a balance-sheet total of more than 41.5 million kronor,
- a net turnover of more than 83 million kronor.
- If the proposals are to be implemented, this means that approx. 96% of all limited liability companies may choose to refrain from having a qualified auditor
- The audit of the management's administration will be deleted from the legislation
- The auditor's obligation to comment on the fact that the enterprise has not performed the duty to pay its taxes and charges will be deleted
- The auditor's obligation to report crimes will be deleted
- A proposal that the term of office for the auditor will be one year instead of the present four years
- A qualified auditor must still certify assets contributed in kind in connection with new registrations of companies and new issues of shares but in many other cases companies without auditors will not need to file an auditor's statement in matters for registration with Bolagsverket
- The requirement to submit annual reports to Bolagsverket is kept, but if the company does not have a qualified auditor, an auditor's report must not be attached to the annual report
- The new provisions are proposed to come into force on 1 July 2010.