The Norwegian Financial Supervisory Authority has published a supervisory report and decision revoking DM Regnskap Oslo AS’s approval as an accounting firm, concluding that the firm is unfit to hold authorisation due to multiple serious breaches of accounting services, bookkeeping and anti-money laundering requirements. The review covered 11 client engagements and identified pervasive deficiencies across the 2023 and 2024 financial years, including insufficient documentation for booked entries, missing assessments supporting bookkeeping, and inadequate documentation and reconciliation of the balance sheet at year-end. Finanstilsynet also found failures to ensure required project accounting for two engagements, inadequate evaluation of clients’ internal routines, and non-systematic quality assurance of assignments. Anti-money laundering shortcomings included a gross breach of the duty to investigate transactions that appeared unusual or lacked a legitimate purpose, including undocumented overseas transfers and repeated cash withdrawals that were not subject to documented follow-up. The revocation takes effect from 10 April 2026. The firm may appeal within three weeks of receiving the decision and may apply for a stay of implementation. Once effective, the firm may no longer take on accounting assignments for other businesses or use the designation “authorised accounting firm”.
Norwegian Finanstilsynet 2026-03-04
Norwegian Financial Supervisory Authority revokes DM Regnskap Oslo AS authorisation as an accounting firm effective 10 April 2026
The Norwegian Financial Supervisory Authority revoked DM Regnskap Oslo AS’s approval due to serious breaches in accounting services, bookkeeping, and anti-money laundering requirements. The report highlighted deficiencies across 11 client engagements, including inadequate documentation, reconciliation, project accounting, and quality assurance. Anti-money laundering violations included failure to investigate unusual transactions and undocumented overseas transfers.