The Financial Supervisory Authority of Norway has published a supervisory report on the authorised accounting firm Aktiva AS, concluding that the firm has introduced more systematic routines following quality controls carried out by Regnskap Norge but still has material shortcomings, particularly in internal quality control and account reconciliations. The supervisor expects the firm to reassess its quality management system and correct the identified deficiencies without delay. The inspection, initiated after Regnskap Norge reported findings from its 2022 and 2023 quality controls, reviewed four accounting engagements and mainly examined 2023 engagement documentation. Finanstilsynet found missing or deficient balance sheet reconciliations in three of the reviewed engagements (17% of accounts in engagement A, 23% in B and 5% in D), and described engagement-level oversight and quality reviews of work performed by non-authorised staff as sporadic and insufficiently documented. The report also notes shortcomings in anti-money laundering compliance (including incomplete use of required forms and insufficiently evidenced follow-up of higher-risk customers), the absence of required fit-and-proper assessments for key persons under Finanstilsynet guidance, and instances where periodic reporting delivered to clients did not match what was agreed in engagement letters. Finanstilsynet took account of organisational changes confirmed by the firm, including the appointment of a new managing director from 1 April 2025 and the allocation of engagement responsibility to additional authorised accountants. A follow-up supervision is planned for autumn 2025 or during 2026 to verify that the deficiencies have been remedied.

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