The simplification of the regulations can save the business sector for NOK 90 million.
A new regulation, which comes into effect on 10 January, allows more companies to choose if they want to audit their accounts or not. This will apply to approximately 7,500 shareholding companies in Norway as well as the over 130,000 limited companies that can already opt for audits.
“For a small business, this can mean that time and money that can be used on new ideas that create more jobs,” says Monica Mæland (H) Minister for Industry.
The new regulations will allow all companies with annual revenue of less than NOK 6 million or a balance sheet amounting to less than NOK 23 million, to choose whether to audit their accounts or not.
Source. Ministry of Trade, Industry and Fisheries/ Norway Today