The Financial Supervisory Authority of Norway has published its 2024 annual report, stating that it largely carried out its tasks in line with the Ministry of Finance’s allocation letter and the authority’s strategy, with supervision across all areas and a risk-based approach to prioritising resources. The report covers 2024 activities and results against strategic goals and performance parameters, and describes governance and control work including the authority’s digitalisation programme, data sharing, and efforts to streamline reporting from supervised entities, as well as the board, internal control and security. It also discusses forward-looking issues including risks of financial instability, crisis preparedness and digital security, and notes stepped-up work against economic crime through stronger cooperation with the financial industry and other authorities. The annual accounts, audited by the Office of the Auditor General, reflect that Finanstilsynet introduced accrual accounting from 2024 in line with Government Accounting Standards (SRS), and the authority also published short area-specific reports in February on supervisory activities in 2024.
Norwegian Finanstilsynet 2025-04-30
The Financial Supervisory Authority of Norway publishes its 2024 annual report highlighting risk-based supervision and a move to accrual accounting
The Financial Supervisory Authority of Norway released its 2024 annual report, highlighting alignment with strategic goals and a risk-based resource prioritization. Key areas include digitalization, data sharing, and enhanced reporting efficiency, alongside increased efforts against economic crime through industry collaboration. The report also notes the adoption of accrual accounting in accordance with Government Accounting Standards.