Audit & Assurance

Our auditors perform extended reviews on financial statements for enterprises covered by reporting class B who have decided to have their statutory audit carried out in accordance with the accounting standard for small enterprises issued by the Danish Business Authority.

An extended review performed in accordance with this standard is limited primarily to inquiries of entity management and personnel and analytical procedures applied to financial data and in addition to these certain specifically required supplementary procedures.

Assurance reports provide documentation that an organization meets key requirements and standards, so stakeholders can place reliance hereon. To align with users' needs, it is essential that there is a close dialogue and alignment between the company and the auditor before issuing an assurance report. In some cases, a workshop may be necessary to evaluate readiness and identify any required adjustments.

Attestations are particularly valuable for businesses that deliver standardized services to multiple clients, such as IT systems, payroll or financial services. By obtaining a single assurance report, companies can streamline compliance efforts - allowing them to share verified assurance with all clients instead of undergoing individual assessments for each one.

We can help you with:

• Assurance on service organizations
  An ISAE 3402 assurance report, which is comparable to a US SOC 1 report, is designed for service organizations to report on their internal controls supporting financial reporting, such as base IT security and effectiveness of their business processes and controls impacting financial transactions. This attestation is particularly crucial for those who have outsourcing relevant to their financial reporting, providing customers with confidence that the underlying systems and procedures are robust and reliable.
  
  
• Assurance on controls that support compliance with GDPR, NIS2, DORA regulation
  We issue ISAE 3000 assurance reports on subject matters such as GDPR, NIS2, DORA and/or specific contractual requirements, e.g. specific security frameworks or data processing agreements. These reports are relevant for those who want to provide their customers or other stakeholders with consistent and transparent insights into key controls, who want to streamline their compliance answers and move away from customer specific checklists, or who based on contractual requirements need to provide assurance.
  
  Read more about Cyber & Digital Risk here.
  
  
• Assurance on a security framework
  Assurance on organizations security frameworks can be performed based on the US SOC 2 assurance framework, which is particularly relevant for IT services, ensuring compliance with trust service criteria such as security, availability, confidentiality, processing integrity and privacy.

The Corporate Sustainability Reporting Directive (CSRD) requires some of the largest Danish companies to integrate detailed sustainability reporting into their financial disclosures. As part of this directive, sustainability reports must undergo mandatory limited assurance in accordance with the ISAE 3000 statement to enhance reliability and transparency.

Our experts bring strong experience in providing limited assurance over sustainability reporting, working with a diverse range of businesses, including large, publicly listed companies. Our risk-based, tailored approach ensures an efficient and value-driven assurance process that aligns with each company’s specific needs.

Read more about our ESG assurance services here.

As businesses evolve and market conditions shift, organizations may need to adapt their business models, ownership structures or management frameworks to stay competitive. Corporate restructuring enables companies to respond effectively to these changes, optimize operations and ensure long-term stability.

At KPMG, our experts provide comprehensive support throughout the restructuring process, offering advice and assurance required by the Danish Companies Act in connection with certain restructuring activities.

We assist with a wide range of restructuring activities, including:

• Business foundations and ownership transitions – Establishing companies through asset or business contributions
  
  
• Holding structure set-ups – Share exchanges for optimized corporate structures
  
  
• Capital adjustments – Capital increases and distributions
  
  
• Dividends and shareholder exits – Capital reductions and non-cash value distributions
  
  
• Mergers and demergers – Business realignments due to succession planning, disposals or operational changes
  
  
• Company conversions and re-registrations – Transitioning entities to different legal structures such as limited liability companies (A/S) or partnerships (P/S)
  
  
• Liquidation and dissolution – Wind-up of companies, including auditor reports on resumption in compulsory dissolution cases.

We can provide assurance over sector specific regulatory compliance, reporting and returns, such as WEEE reporting, EU fund reporting, labor union reporting, emergency stock requirements, etc.​

We can provide assurance over grants, contractual and commercial requirements, such as WEEE reporting, project accounts covering realized costs related to grants, realized revenue used for compliance with contract terms, etc.​

We are frequently appointed as expert witnesses in legal and arbitration proceedings. Our team has in-depth expertise in court procedures, deadlines and regulatory requirements. Many of our professionals are recognized as qualified experts by The Institute of State Authorized Public Accountants (FSR – danske revisorer).

Based on the court-approved scope of the dispute, we deliver independent, fact-based assessments and respond to inquiries from all parties involved. Our expertise spans audit, accounting, bookkeeping, tax and related areas, ensuring a comprehensive and reliable evaluation.

We also provide independent expert valuations that bring clarity and transparency to legal and arbitration cases. By leveraging specialized knowledge, expert appraisals ensure well-informed decision-making in complex disputes.

In a rapidly evolving business landscape, internal audit and compliance functions play a crucial role in enhancing risk management, compliance and governance. As an independent assurance function, it helps organizations identify inefficiencies, mitigate risks and ensure regulatory compliance.

Our internal audit and compliance experts collaborate closely with internal auditors, audit committees and finance teams to optimize the internal audit and compliance function. Through this partnership, we enhance strategic business insights, uncover opportunities and maximize the value that internal audit and compliance functions bring to your organization.