Audit services

All companies need auditing and counseling. At RSM Denmark, we advise small and medium-sized enterprises based on concrete business principles and tailor our auditing solutions to the needs of your business. With our professional auditing, we work with you to address your requirements and our audit specialists will advise on how to improve your business and workflow.

Regardless of whether your company is subject to financial auditing requirements determined by law, we will always complete our work by providing the financial statements with an audit report.

Professional auditing by RSM Denmark

When you first meet RSM Denmark, you will be assigned a dedicated team of partners and audit specialists. The team will be connected to your company and you will always have a permanent contact for your audit assurance.

At our initial meeting, we’ll get to know you, your company, and your specific needs. We believe the best auditing solutions require an in-depth understanding and knowledge of you and your company, enabling us to provide high-quality corporate auditing services.

Audit of financial statements

Unless your company is exempt from auditing and you submit the annual report, your business will be subject to an audit of financial statements. You can choose between four different types and each one is an expression of the extent to which the auditor can say that the financial statement is accurate.

Without a declaration, the lowest degree of security is obtained. With an audit, the highest degree is obtained.

Types of statements: 

NO STATEMENT

The company alone oversees the audit of financial statements and ensures they have been produced in accordance with legislation.

ASSISTANCE FROM AN AUTHORIZED AUDIT SPECIALIST   

With assistance, the auditor helps set up the annual accounts in accordance with legislation. Furthermore, the audit specialists provide a statement without certainty about the information in the annual accounts, as the auditor does not perform controls of the information.

An authorized auditor cannot submit a declaration of assistance if the accounts contain apparent errors.

REVIEW OF FINANCIAL STATEMENTS 

A review provides limited certainty for the information in the annual accounts. In a review, the professional auditing specialists’ assessment of the financial statements is primarily based upon analytical actions and inquiries for the management.

The auditor only performs an additional review or audit of financial statements if the analyses and inquiries give rise to it.

EXTENDED ASSESSMENT 

Extended assessment provides limited certainty for the information in the annual accounts. In an extended assessment, the professional auditing specialists’ assessment of the financial statement is primarily based upon analytical actions and inquiries for the management. 

To obtain additional certainty in relation to a review, the auditor completes several specific supplementary actions.

AUDIT 

An audit assurance provides a high level of certainty for the information in the annual accounts. The audit specialists perform analyses and inquiries for the management, as well as relevant reviews of significant items in the financial statements. This is carried out by physical control, observations, procurement of external verification, etc.

Can I determine the type of statement?

Audit assurance can be deselected if two consecutive financial years do not exceed two of the following:

• A balance sum over DKK 4 million
• Revenue above DKK 8 million  
• An average number of full-time employees of 12 during the financial year

If these limits are not exceeded, it is up to the owner of the company to decide which statement is most suitable. However, there may be external factors that can influence the choice. There can, for example, be a demand from the bank or creditors.

The choice of statement type should therefore be considered and discussed with the most important stakeholders.

Why choose RSM Denmark’s corporate auditing services?

Anyone, regardless of education, can provide auditing services and help a company draw up a financial statement. However, only authorized auditors may declare themselves on accounts. To be an authorized auditor, the following is required: 

• Continuous training 
• Be updated on legislation 
• Compliance with the code of ethics for auditors
• Insurance
• Continuously subject to quality control   
      

At RSM Denmark, we take pride in knowing that all our authorized special purpose audit specialists deliver the quality for which we are known. We ensure our employees take part in ongoing training and they are up to date with relevant legislative changes. This guarantees you will always meet employees who deliver audit services of the highest quality.

To find out more about our special purpose audits and how our professional audit services can help you, contact our expert team today.