On Nov. 21, NORFSA issued update KRT-1004 for accounting firms.
NORFSA issued updated accounting measures setting out reporting obligations.
Scope of Measures
Reporting obligation applies to accounting firms and accountants who conduct business via sole proprietorships, and must report with self-registration in Altinn (KRT-1004).
Accounting companies that received their approval before Jan. 1, 2024 and sole proprietorships in Register of Accounting Drivers before Jan. 1, 2024 must report.
Reporting obligation only applies if the driver is registered in Register of Receivable Drivers at the time of reporting, and link is on NORFSA's Register of Activitiespage.
Failure to Report
If companies fail to respond within the deadline, it is a breach of the duties of the accounting managers and the accounting companies, leading to supervisory reactions.
Includes revocation of approval, as self-reports are basis for risk-based supervision.
