Best Accounting & Auditing Lawyers in Farum

1. About Accounting & Auditing Law in Farum, Denmark

Farum is part of Frederikssund Municipality in the Capital Region of Denmark. Financial reporting and auditing rules apply uniformly across Denmark, including Farum, with local enforcement carried out by national authorities. If your business operates in Farum, you must follow the same national standards for accounting and auditing as companies in Copenhagen or Aarhus.

Key Danish laws govern accounting and auditing, including the Financial Statements Act, the Auditors Act and the Bookkeeping Act. These laws establish how financial statements are prepared, what must be disclosed, when an audit is required, and how auditors must operate. Compliance helps ensure transparent reporting to shareholders, lenders and tax authorities.

Auditing and accounting requirements depend on company size, legal form and activities. Larger entities and certain types of businesses must have statutory audits conducted by a Danish-licensed auditor. Smaller entities may have simplified reporting or exemptions, but still face strict bookkeeping and reporting obligations.

2. Why You May Need a Lawyer

• Receiving a tax or accounting compliance notice in Farum - A local retailer in Farum receives an unexpected letter from the Danish Tax Agency requesting documentation for VAT and payroll reporting. A lawyer with accounting expertise can interpret the notice, gather the required records, and respond within the deadline to avoid penalties.
• Audit scope disputes with a Danish auditor - A Farum manufacturing firm questions an auditor’s opinion or requests changes to the audit scope. A solicitor specialized in accounting and auditing can negotiate engagement terms, preserve client rights, and prepare responses that adhere to Revisorloven rules.
• Internal control failures and potential breaches of Bogføringsloven - A local service provider discovers gaps in bookkeeping, such as missing invoices or late postings. An attorney can advise on corrective actions, potential sanctions, and how to implement compliant processes going forward.
• Cross-border or EU reporting requirements - A Farum company with subsidiaries abroad must align Danish accounting with EU directives on consolidated reporting and audit requirements. A lawyer experienced in cross-border accounting ensures filings meet both Danish and EU standards.
• Litigation or dispute over audit qualifications - Shareholders in a Farum company sue the auditor for alleged misstatements or failure to comply with independence standards. Legal counsel can manage pre-litigation steps, protective orders, and the appropriate forum for resolution.
• Corporate governance and statutory audit rotation - An owner- managed firm considers appointing a new auditor to align with governance best practices. A Danish lawyer can guide the selection process, qualification checks and contract terms under Revisorloven requirements.

3. Local Laws Overview

The Danish framework for Accounting & Auditing is built around several core statutes. In Farum, these apply in the same way they apply anywhere in Denmark, with enforcement coordinated by national authorities.

• Årsregnskabsloven (Financial Statements Act) - Governs the preparation and presentation of annual accounts and consolidated financial statements. It sets the formats, disclosure requirements and filing deadlines for Danish entities. Recent EU alignment and Denmark updates have focused on improving consistency and transparency across smaller enterprises as well as larger groups.

  EU Directive 2013/34/EU on annual financial statements and consolidated accounts - integration into Danish law and national practice.

• Revisorloven (Auditors Act) - Regulates the appointment, competence, independence and oversight of statutory auditors. It details audit requirements for different business sizes and the duties of the auditor. Recent changes reflect EU audit reforms and enhanced supervision to protect stakeholders.

  EU Regulation 537/2014 on specific requirements for statutory audits of annual accounts and consolidated accounts.

• Bogføringsloven (Bookkeeping Act) - Sets out the bookkeeping records that Danish entities must maintain, including documentation, retention periods and digital recordkeeping standards. This act supports accurate financial reporting and audit readiness in Farum businesses.
• Note on implementation and practice - Denmark implements EU accounting norms through these acts, and Danish authorities periodically update guidance and forms to reflect changes in business practice and EU directives. For broader EU context, see EU and international standard setting bodies referenced below.

EU directive 2013/34/EU on annual financial statements and consolidated accounts - Danish alignment and practical implementation.

IFAC - International standards and guidance on auditing, ethics and quality management for professional accountants.

OECD - Corporate governance, auditing practices and professional standards in member economies, including Denmark.

In recent years Denmark has continued to align national rules with EU reforms to strengthen audit quality and corporate governance. This includes enhanced reporting requirements and tighter oversight of auditors, affecting Farum companies just as they affect firms in greater Copenhagen and across Denmark. For practical execution, consult with a local Danish-licensed auditor or a law firm with accounting specialization to interpret the latest rules as they apply to your business.

4. Frequently Asked Questions

What is the Financial Statements Act and who must file annual accounts in Denmark?

The Financial Statements Act (Årsregnskabsloven) governs accounting formats, disclosures and filing deadlines. Most Danish companies with annual reporting obligations must prepare and file annual accounts, even if they are not required to conduct a full audit. Local counsel can confirm whether your Farum business qualifies for simplified reporting.

How do I know if my Farum business needs an auditor under Danish law?

Auditor requirements depend on company size, legal form and activities. In general, larger entities and certain partnerships require a statutory audit, while smaller firms may be exempt or eligible for simplified audit arrangements. A Danish attorney or auditor can confirm your company’s status based on current thresholds.

When are Danish annual accounts due for filing in Farum?

Filing deadlines vary by company type and size, but most entities must file within a fixed period after the financial year end. If you miss the deadline, penalties can apply. A local solicitor can help you calendar deadlines and prepare the necessary filings.

What is the role of a revisor in Denmark and how do I choose one in Farum?

A revisor is a licensed auditor responsible for independent verification of financial statements. In Farum, choose a revisor with Denmark-registered qualifications and a track record with similar businesses. Ask about independence, prior engagements, and fee structures before engagement.

What is the difference between an accountant and an auditor in Denmark?

An accountant prepares and maintains financial records and reports, while an auditor reviews those records to express an independent opinion on their accuracy. For statutory audits, a Danish-licensed auditor is required by law for appropriate entities.

What should I look for in an engagement letter with an accounting or auditing firm?

The engagement letter should define scope, deliverables, timelines, fees, and how conflicts of interest will be handled. It should also specify responsibilities of management and the auditor during the engagement. Review carefully with a lawyer before signing.

Can I contest an audit opinion issued for my Farum company?

Yes, you can challenge an audit opinion through appropriate legal channels if you believe the findings are unjust or misapplied. A lawyer can help prepare the challenge and liaise with the auditor under applicable Danish rules.

Where do I file Danish annual reports for a Farum company?

Annual reports are typically filed with the central Danish business registers managed by the national authorities. A local attorney can handle the submission process and verify that all required documents are complete and compliant.

Should I hire a local Farum lawyer or a larger Copenhagen firm for accounting matters?

Local expertise matters, especially for understanding municipality-specific processes and deadlines. A Copenhagen-area firm may offer broader resources for complex matters, while a Farum specialist can provide tailored local service and quicker retainer responses.

Do I need to know Danish to work with an accounting lawyer in Farum?

Yes, most Danish accounting and auditing documents are in Danish. A bilingual attorney can help translate terms and ensure you understand obligations and potential penalties. If needed, request a lawyer who has experience assisting foreign-owned businesses.

What documents should I prepare before meeting a lawyer about accounting issues?

Prepare company registration papers, recent financial statements, tax declarations, bookkeeping records, and any correspondence from authorities. Providing organized records helps your lawyer assess risks and outline a compliance plan quickly.

Is CSRD reporting required for small Danish companies in Farum?

The Corporate Sustainability Reporting Directive (CSRD) extends to many large companies and certain medium-sized entities. In Denmark, large and some medium entities may need to report on environmental, social and governance factors. A local attorney can confirm applicability for your firm and guide you through the reporting process.

5. Additional Resources

• - Global standards for auditing, independence, and quality management; useful for understanding professional expectations and ISAs. https://www.ifac.org
• - Official access to EU legislation including the Accounting Directive and the EU audit reform regulations. https://eur-lex.europa.eu
• - Guidance on corporate governance and accounting practices for member economies, including Denmark. https://www.oecd.org
• - Erhvervsstyrelsen and Finanstilsynet provide regulatory guidance, registration, and supervision details relevant to accounting and auditing in Denmark. https://erhvervsstyrelsen.dk, https://finanstilsynet.dk