Revisorloven

Revisorloven is the Norwegian statute governing the profession of auditors and the conduct of statutory audits. The law establishes the framework for who may perform audits in Norway, the conditions for authorization, and the duties of auditors in relation to corporate financial reporting. It aims to protect the integrity of financial statements and to strengthen public confidence in audited information.

The act applies to authorized auditors and audit firms carrying out statutory audits of annual accounts and consolidated accounts for companies and other entities required by law to have an audit. It sets requirements for independence, objectivity, confidentiality, and conflict of interest, as well as competence and continuing professional development.

Key provisions include rules on obtaining and maintaining authorization to practice, registration in a supervisory register, and the rights and duties of auditors during the audit. It also prescribes the form and content of audit reports, procedures for audits, and the handling of audit evidence. The act provides for disciplinary measures, sanctions for violations, and cooperation with other authorities in cases of irregularities.

Revisorloven operates alongside related financial reporting and company law provisions, such as the accounting and auditing framework in Norway, and has been amended over time to reflect changes in the profession and the market, including alignment with European standards for statutory audits.