The Norwegian Financial Supervisory Authority has published an inspection report on RSM Norge AS covering its audit of a bank, identifying multiple weaknesses in the audit work on expected losses on loans and the provision of additional services without prior approval from the bank’s audit committee. The report also flags what the supervisor considers breaches of the Auditor Act, citing insufficient follow-up of findings after completed monitoring reviews and issues related to inventory audit work for six audit clients.
Norwegian Finanstilsynet 2026-01-07
Norwegian Financial Supervisory Authority finds shortcomings in RSM Norge’s bank audit and breaches of the Auditor Act
The Norwegian Financial Supervisory Authority released an inspection report on RSM Norge AS, highlighting deficiencies in its audit of a bank, particularly concerning expected loan losses and unauthorized additional services. The report also notes potential breaches of the Auditor Act, including inadequate follow-up on monitoring reviews and inventory audit issues for six clients.