Existing user? Sign in
Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
This guide explains key legal aspects of accounting and auditing for people and businesses in Solna, Sweden. Accounting and auditing in Sweden are governed mainly by national statutes and by technical standards issued by independent boards. Solna, as part of Stockholm County, follows the same national rules as the rest of Sweden. Relevant matters include bookkeeping obligations, preparation and filing of annual accounts, rules on audit duties, auditor independence, tax reporting and the legal remedies available when accounting or audit failures occur. Public companies and larger groups must follow more extensive rules, and certain international standards may apply for listed companies.
Accounting and auditing issues often intersect with corporate law, tax law and criminal law. A lawyer with experience in accounting and auditing disputes can help in many situations, including:
- Disputes with auditors over scope, quality or findings in an audit report. Lawyers can advise on contractual rights, statutory duties and possible remedies.
- Allegations of accounting errors, fraud or omissions that trigger regulatory inquiries, tax adjustments or criminal investigations. Early legal advice helps protect directors and the company and manage interaction with authorities.
- Regulatory investigations by authorities such as the Swedish Tax Agency, the Swedish Economic Crime Authority or the Inspectorate of Auditors. A lawyer can coordinate responses, protect legal rights and negotiate outcomes.
- Claims for negligence or damages against accountants, auditors or advisors. Lawyers can evaluate the strength of a claim, gather evidence and represent clients in court.
- Corporate transactions where historical accounts and audit reports affect valuations and warranties in share or asset deals. Legal review limits risk and shapes contractual protections.
- Insolvency, restructuring and liquidation where accounting records, creditor claims and director liability need careful handling.
The following legal frameworks and institutions are particularly relevant for accounting and auditing matters in Solna and across Sweden:
- Bokföringslagen - the Accounting Act - sets basic bookkeeping obligations, retention periods for records and formal requirements for accounting documentation.
- Årsredovisningslagen - the Annual Accounts Act - regulates the contents and presentation of annual reports for limited liability companies and similar entities. It also prescribes the filing of annual accounts with the Companies Registration Office.
- Aktiebolagslagen - the Companies Act - governs corporate governance, directors duties and reporting obligations that affect accounting and disclosure.
- Revisorslagen and related rules set requirements for the qualification, registration and conduct of auditors. Auditors must comply with independence and professional standards.
- Accounting standards for non-listed companies are issued by the Swedish Accounting Standards Board. The K2 and K3 frameworks provide simplified and full reporting alternatives for smaller and larger companies respectively. Listed companies and certain large groups often apply IFRS or national rules adapted to EU requirements.
- Tax law - the Income Tax Act and other tax statutes - intersect with accounting when taxable income, deductions and tax returns are determined. Tax assessments and appeals follow administrative procedures under the Swedish Tax Agency.
- Supervisory bodies and enforcement - Bolagsverket handles company registrations and filing of accounts. Revisorsinspektionen supervises auditors. Bokföringsnämnden issues accounting guidance. Ekobrottsmyndigheten handles serious economic crime. The Swedish Tax Agency conducts tax audits and assessments.
- Audit exemption rules - small companies may be exempt from statutory audit if they meet certain size criteria. Thresholds and eligibility rules can change, so it is important to verify current criteria before assuming exemption.
Not all companies must have a statutory audit. Small companies can be exempt if they meet the statutory criteria for size and ownership structure. The criteria depend on measures such as turnover, balance-sheet total and number of employees. Rules can change, so confirm current thresholds before relying on an exemption.
Under the Accounting Act you must keep primary accounting records, receipts, ledgers and annual reports. Retention periods are generally several years - for example, several common retention requirements are five to ten years - but exact periods depend on the type of record and tax requirements. Keep records organized to support tax returns and any future audits or disputes.
Document the issue, gather supporting materials and seek legal and accounting advice promptly. You may file a complaint with the auditor firm, raise the matter with Revisorsinspektionen, and consider civil claims for breach of duty or negligence. If the matter suggests criminal conduct, law enforcement or the Economic Crime Authority may need to be involved.
Yes. Tax assessments can be appealed through the administrative appeals system. The first step is usually to contact the Swedish Tax Agency to discuss and clarify the assessment. If unresolved, formal objections and subsequent appeals can be made. Legal counsel experienced in tax law helps prepare arguments, documentation and procedural steps.
Auditors apply national and international auditing standards when performing audits. These standards define scope, evidence requirements and reporting obligations. For clients, this means auditors will follow structured procedures and produce audit reports that reflect whether the financial statements give a true and fair view in accordance with applicable standards.
Company directors are legally responsible for ensuring proper bookkeeping, that annual accounts are prepared on time and that internal controls are adequate. Directors can face personal liability for certain failures such as neglecting to keep proper records, wrongful transactions or tax liabilities. Directors should proactively manage accounting processes and seek professional advice when in doubt.
Costs vary by complexity, the lawyers experience and whether the issue is advisory, negotiation, litigation or regulatory defense. Initial consultations may be charged or offered at a fixed fee. For disputes, costs include legal fees, expert accounting fees and potential court costs. Ask for a clear fee agreement and estimate before engaging a lawyer.
Auditors can be held liable in civil law for failing to perform their duties with reasonable professional care, resulting in loss to the client or third parties. Liability depends on the facts, the auditors professional standards and causation. There are also disciplinary procedures and supervisory oversight for auditors through relevant authorities.
Obtain legal counsel immediately, preserve relevant records, and avoid providing statements without legal advice. A lawyer can help manage communications with the authority, negotiate interviews or inspections and advise on privilege and disclosure risks. Early coordination with an accountant is often necessary to clarify technical questions.
Look for lawyers and auditors with demonstrable experience in accounting, auditing, tax and corporate disputes. Ask for references, qualifications, previous case experience and clarity on fees. Local bars, professional organisations and business networks in the Stockholm area can help identify specialists. Ensure any auditor is registered and authorized under Swedish rules.
Useful Swedish institutions and professional bodies to consult or notify when dealing with accounting and auditing matters include national agencies and professional organisations. These include the Companies Registration Office, the Swedish Tax Agency, the Inspectorate of Auditors, the Swedish Accounting Standards Board, the Swedish Economic Crime Authority and professional associations for accountants and auditors. Local business support and the municipal business service in Solna can point to local advisors and networks. For legal representation, the Swedish Bar Association maintains a register of qualified lawyers and provides guidance on finding a lawyer.
If you need legal help with accounting or auditing in Solna, follow these practical steps:
- Gather and organize all relevant documents - accounting records, audit reports, correspondence, contracts and filings.
- Note key dates - when statements were filed, when issues were discovered, and any statutory deadlines for appeals or complaints.
- Seek an initial consultation with a lawyer experienced in accounting, auditing and tax law. Provide the documents and ask for an assessment of legal options, risks and timelines.
- Discuss fees, cost estimates and how evidence or expert witnesses will be handled. Consider whether early negotiation, mediation or formal legal action is appropriate.
- If regulatory or criminal investigation is possible, act quickly to secure legal representation and coordinate responses with accountants.
- Keep communications professional and documented. Follow your lawyers advice about what to say to auditors, authorities and other parties.
Accounting and auditing issues can have significant financial and legal consequences. Early, specialist legal advice helps protect your position and increases the chance of a favorable outcome.
