On Feb. 11, NORFSA issued guidance on self-reporting in KRT-1003.
Self-reporting for firms subject to accounting control (KRT-1003) must be completed by enterprises listed on Oslo Stock Exchange/Euronext Expand, that issue shares, fixed income securities and/or equity certificates, and that have Norway as their home state.
The self-reporting forms the basis for NORFSA's risk-based selection of companies and accounts to be audited, and it is of great importance that reporting deadline is met.
In its review of companies' self-reporting in KRT-1003 for 2023 financial year, NORFSA uncovered excessive number of errors, and reference is made to section 3.6 of its own subsequent report, entitled Control of listed companies' financial reporting in 2024.
The guide contains all questions and answer options that will be included in the 2025 version of KRT-1003, with help text and relevant explanations for questions provided.
However, NORFSA reserves the right to make minor changes to the form prior to its publication via Altinn, which is currently estimated to be provided in early Mar. 2025.
Businesses are encouraged to read through the guidance as early as possible to ensure that they allow sufficient time, and that resources are allocated to respond to the form.
NORFSA reminded the self-reporting requirement is part of the Securities Trading Act.
It follows from §5-5 that if the auditor has found that the accounts should not be determined as they are, or if the auditor has given comments, clarifications or made reservations in the audit report, a notification must be sent to NORFSA immediately.
Also to the relevant regulated market, as soon as report has been received by issuer.
Effectiveness
Expected KRT-1003 publication date via Altinn is Mar, 10, 2025, deadline May 9, 2025.
