The Financial Supervisory Authority of Norway has published an inspection report and decision following a supervisory review of Solvang Revisjon AS, identifying multiple shortcomings in the firm’s audit work and compliance with applicable requirements. The inspection found that the auditor had not obtained sufficient audit evidence on the existence and condition of inventories in four engagements and on revenues in four other engagements. It also identified errors in the audit report, inadequate client acceptance assessments, and breaches of independence rules. Solvang Revisjon AS has initiated measures intended to prevent similar weaknesses in the future.
Norwegian Finanstilsynet 2025-09-24
Norwegian Financial Supervisory Authority finds audit evidence and independence deficiencies at Solvang Revisjon AS
The Financial Supervisory Authority of Norway released an inspection report on Solvang Revisjon AS, highlighting deficiencies in audit work and compliance. The review found insufficient audit evidence on inventories and revenues, errors in audit reports, inadequate client assessments, and independence breaches. Solvang Revisjon AS has begun implementing corrective measures.