Under Indonesian company law, a company`s financial reports must be audited if: Shareholders holding at least 5% of the common shares require it, or if ASIC requires it to prepare audited financial statements. Audit of financial statements by auditors registered in Hong Kong is required, but these audited financial statements are not publicly available. The accounting records of a corporation must be kept at its head office or at such other place as the directors deem appropriate. If the accounting records of an enterprise are kept in a place outside Hong Kong, the accounts and statements relating to the enterprise covered by those records must be sent and kept in a place in Hong Kong. If the company has an auditor, the auditor must be approved by the Norwegian Financial Supervisory Authority. Small enterprises, including cooperatives, are exempt from control if the criteria laid down in the Act of 19 December 2002 are met. However, companies subject to the supervision of the Commission de Surveillance du Secteur Financier, the Autorité publique d`audit et de l`Autorité des services financiers („CSSF“) or the Commissariat aux Assurances, the Autorité de surveillance des assurances („CAA“), must have their annual accounts audited, regardless of their size and type of company. The audit of the annual accounts is carried out in accordance with the International Standards on Auditing („ISA“) as adopted by the CSSF for Luxembourg. Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on the statutory audit of annual and consolidated accounts, as amended by Directive 2008/30/EC of 11 March 2008 and Directive 2013/34/EU of 26 March 2008.
June 2013 and Directive 2014/56/EU of 16 April 2014 Foreign auditors or audit firms may carry out audits of Ukrainian companies if they meet the requirements of the statutory auditor of Ukrainian law and are allowed to carry out such activities in Ukraine under the law of the State of their registration. Where the operation of a branch is subject to special banking or financial regulations, an auditor shall be appointed to examine the annual accounts and the management of the Managing Director independently of the above-mentioned criteria. In such cases, the auditor must meet the legally required qualifications that apply to a Swedish company of the same description. Approved auditors (internal or external) must verify that the annual accounts give a true and fair view of the company`s financial situation. In addition, they must monitor the business activities of the company. The appointed auditor must be a certified public accountant (HT or KHT) and must be located in the EEA. In addition, a registered accounting firm may act as an auditor. The following laws and regulations regulate the requirements for initial vocational training (IPR) and continuing professional education (CPD) for statutory auditors in Luxembourg: (i) the Audit Act, (ii) the Grand-Ducal Regulation, which lays down the requirements for the professional qualification of statutory auditors and approved statutory auditors, and (iii) the CSSF Regulation on the training of statutory auditors and authorised statutory auditors. Every six months, the internal auditors receive a report from the Management Board or the Board of Directors summarizing the company`s assets and liabilities. Determined by the applicable law of the registered office. If, under its applicable law, the registered office requires the filing of annual accounts in its country of origin, these annual accounts shall also be filed in the Dutch commercial register of the branch. The applicable law of the registered office also determines whether the financial statements are to be audited.
Annual financial statements must be audited by qualified auditors from Thailand. As a general rule, a company`s account must be kept at its place of business. Each year, one month before the Annual General Meeting, the annual financial statements are submitted to the Internal Auditor for the preparation of a report with recommendations and the control procedure used. The report must also be made available to all shareholders at the head office 8 days before the annual general meeting. The auditor may call on an expert approved by the Company to audit the Company`s books and financial statements. As a member of the European Union (EU), Luxembourg is subject to the accounting, auditing and accounting obligations laid down in EU regulations and directives, as transposed into national laws and regulations. The Audit Act stipulates that statutory audits are carried out in accordance with the International Standards on Auditing (ISA) adopted by the CSSF. The latter is also empowered to adopt standards of professional ethics, internal quality control and statutory audit in the field of statutory audit for matters that may not be covered by the ISA. These standards, including ISAs, are adopted by a CSSF regulation. This regulation includes additions/exceptions to the standards of professional ethics, internal quality control and ISA. With regard to chartered accountants, the Law of 10 June 1999 on the profession of chartered accountant defines the legal basis of the I&D system for these professionals and confers on the OEC, the PAO for chartered accountants, the authority to operate the system. The OEC`s I&D system includes investigative, discipline and appeal processes.
The OEC has completed a self-assessment of its I&D system and, although its procedures are largely aligned with the requirements of WMO 6, there are some gaps in areas of public interest and administrative procedures. As mentioned in the Audit Act, the CSSF is responsible for the quality assurance reviews of the statutory audits of public-interest entities (PIEs) every three years and the statutory audits of non-PPE every six years. The quality assurance system meets the requirements of the Audit Directive, the EU Audit Regulation and the requirements of SMO 1. The statutory auditor is a role defined by Article 61 of the Luxembourg Law on Commercial Companies, which provides that public limited companies (public limited companies and certain limited liability companies) must be supervised by one or more auditors called auditors, who may be shareholders of the public limited company. The Audit Act authorises the Financial Sector Supervisory Commission (CSSF) to supervise the audit profession. The CSSF is a member of the International Forum of Independent Audit Regulators (IFIAR) and carries out the following areas of activity: i) the approval and registration of statutory auditors, statutory auditors and approved audit firms; (ii) the adoption of standards of ethics, internal quality control of approved audit firms and statutory audit; (iii) continuing education; (iv) quality assurance systems; and (v) systems of investigation and administrative discipline. A limited liability company that includes reporting classes B, C or D under the Danish Financial Statements Act must have its annual report audited by 1 or more independent auditors. A Category B entity may not be elected to audit the annual report if it fulfils at least 2 of the following conditions: the annual accounts and, where applicable, the management reports must be audited by an auditor certified in Spain, unless the entity can provide a condensed balance sheet.
