On Jun. 13, 2025, NOR CPA reported on Pride, human rights and the Transparency Act.
Specifically looked at how the business sector has a statutory responsibility to work to ensure fundamental human rights and decent working conditions are safeguarded.
All enterprises must comply with the Act must carry out due diligence assessments.
Protection against discrimination is one of several human rights that are relevant in companies' due diligence assessments under the Transparency Act.
Stakeholder dialogue is fundamental principle in due diligence under Transparency Act.
On Apr. 5, NOR CPA issued guides on reports as per Transparency Act.
NOR CPA updated guidance on reporting statements, according to Transparency Act.
Follows NOR CPA May 2023 confirmed due diligence reports due Jun. 2023, #172435.
Transparency Act Statement Guidance
NOR CPA supervises the Transparency Act, and works to follow up on intent of law.
Guidance and dialogue as instruments are extensively used by NOR CPA, which ensures that up-to-date information is available to agencies that are to publish reports.
Deadline for reports be affected agencies is annually by Jun. 30, says NOR CPA.
NOR CPA's disclosure pages have been updated with practical examples and video guidance, and examples based on questions from businesses, and genuine accounts.
Guidance contains three minimum requirements for a statement, which includes formal requirements relating to the report and which rules apply to enterprises in groups.
NOR CPA emphasizes minimum requirements on due diligence, results, and measures.
Accounting Period
Companies must always give an account of the due diligence assessments carried out in the last completed financial year before the reporting deadline, states NOR CPA.
This applies regardless of whether a company has had deviating financial year or not.
Transparency Act follows the Accounting Act's system for annual reports.
In NOR CPA's examples, if company has balancing day on Dec. 31 2023, the company must publish an account of the period Jan. 1 to Dec. 31, 2023 by Jun. 30, 2024.
Dec. 2024 Auditor's Checklist
On Dec. 9, 2024, NOR CPA issued article on auditor's checklist re Transparency Act.
Checkpoints that can be used in audit work include assessment on whether the business has obligations under the Act, annual report, statement's accessibility online.
Correct signature of statement, timely responses to written requests for information.
Apr. 2025 Report's Content Reminder
On Apr. 23, 2025, NOR CPA reminded that it checks the disclosure obligation under the Transparency Act which must be published on entities' website by Jun. 30 each year.
The report is intended to provide general insight into the compliance assessments the business made re how the business affects human rights and working conditions.
NOR CPA has already checked the reports submitted in 2023 and 2024 and reminded that for legal violations, it can use guidance, decisions with penalties or criminal fines.
Jun. 2025 Due Diligence Assessments
On Jun. 13, 2025, NOR CPA reported on Pride, human rights and the Transparency Act.
Specifically looked at how the business sector has a statutory responsibility to work to ensure fundamental human rights and decent working conditions are safeguarded.
All enterprises must comply with the Act must carry out due diligence assessments.
Protection against discrimination is one of several human rights that are relevant in companies' due diligence assessments under the Transparency Act.
Stakeholder dialogue is fundamental principle in due diligence under Transparency Act.
