Finanstilsynet keeps Vold Regnskap authorised despite deficiencies

Finanstilsynet found serious and systematic deficiencies at Vold Regnskap AS but decided not to revoke the firm’s authorisation.

The supervisory report, published on 5 August 2026, covers the Norwegian accounting firm’s assignment work, governance and controls. Vold Regnskap had 12 employees and turnover of about NOK20.2m in 2025, according to the report.

The deficiencies related mainly to one client assignment. Over several years, the firm failed to carry out necessary investigations and assessments of extensive and unusual transactions. The report also identifies shortcomings involving accounting, bookkeeping and anti-money-laundering duties, client-procedure assessments, reconciliations and quality controls.

Finanstilsynet said the deficiencies were the firm’s responsibility. It said the most serious breaches were concentrated in one assignment and involved work performed by the chair and owner, who will be followed up in a separate process. The authority concluded that revocation would not be proportionate or necessary after an overall assessment.

Vold Regnskap keeps its authorisation.

The firm must document a systematic review of the breaches and implement concrete changes to its routines, controls and management follow-up. Its immediate work is to map the failures across the affected assignment, evidence the review, tighten transaction-investigation procedures and ensure documented management oversight of unusual activity, reconciliations and client procedures. The report does not specify a response deadline or separate implementation timetable in the supplied material.

Finanstilsynet’s explanation of supervisory reports and decisions says the authority can require a firm or person to correct deficiencies or withdraw an authorisation where the conditions warrant it. The framework explains why the report combines a serious finding with continued authorisation and supervisory follow-up.

The source does not provide a named statement from Vold Regnskap, an industry body or another stakeholder. It also does not specify the form of any future submission, the reporting channel or the date of the separate process concerning the chair and owner.

Vold Regnskap’s authorisation remains in force, subject to the required documented review, control changes and management follow-up. The next step is for the firm to complete that review; the report does not set a deadline in the supplied material. Practitioners should consult Finanstilsynet’s supervisory report on Vold Regnskap AS for the findings and follow-up instructions.