The Norwegian Financial Supervisory Authority (Finanstilsynet) has published a supervisory report on Ski Revisjon AS focused on an audit client’s submission of a new set of 2023 annual financial statements to the Norwegian Register of Company Accounts to replace statements already filed, and on the auditor’s related reporting and conduct. The case arose after the register notified Finanstilsynet that Company A had filed revised 2023 accounts in early 2025 with a new audit report dated 24 January 2025 replacing a report dated 31 July 2024, with the change linked to a group contribution decided after the original approval and filing. Finanstilsynet reiterated that filing a new set of annual accounts should be exceptional and that errors should normally be corrected in the next year’s accounts. It criticised the auditor for not including sufficient information in the replacement audit report about the reason for the change as required under the Auditor Act and ISA 560, and for providing a covering letter to the register that Finanstilsynet considers inaccurate and not objective, potentially weakening trust in the auditor’s objectivity and independence. Separately, Finanstilsynet found that the auditor’s reporting on going concern was inappropriate: given the company’s lost equity and a mismatch between the auditor’s emphasis and the company’s disclosures, the report should have been qualified or adverse under ISA 570 and ISA 705. Ski Revisjon AS said the situation was unfamiliar in its practice and that it will adjust routines, including being more cautious about assisting clients with such submissions and paying closer attention to avoiding similar errors.

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