What does an auditor do more than review the accounts and the board’s administration in limited companies, associations and other organizations? As a result of what the auditor has observed, he has the opportunity to give good advice on improvement measures and financial issues in general. In addition, it is common for the auditor to issue certificates to the auditor in various situations.
An accountant can help you with this:
- To review an annual report or financial report
- To review how the board has conducted its work
- Other audits such as sustainability reporting, general audits or audits by special agreement
- Tax calculations
- Accounting issues
- Improvement measures in the business
Quality stamp and credibility
An auditor in the organization normally gives a stamp of quality to all stakeholders. These can be banks, the Swedish Tax Agency, suppliers and customers who do business with the organization, or contributors.
The auditor also increases credibility within the organization and through advice helps management to minimize risks and make the right decisions.
When do you need an accountant?
The law requires that larger organizations have an authorized or approved auditor.
There are many organizations that do not have to have an auditor but still choose to have this anyway due to the fact that there are many benefits and the cost can be recouped many times over through reduced risks and advice on deductions and taxes and more.
Authorized Public Accountant or lay auditor
Authorized Public Accountants are the only ones who can perform statutory audits. These meet the Audit Act’s requirements for experience and level of education. They also have both practical and theoretical training, usually 3-5 years of experience from working at an auditing firm and a university degree in economics. Finally, they have completed an auditing degree at the Swedish Auditing Inspectorate. The authorization itself is valid for five years and then needs to be renewed.