Finanstilsynet finds audit breaches in all four Unic Revisjon jobs

Finanstilsynet has found breaches of the revisorloven and auditing standards in all four engagements it examined at Unic Revisjon ASFinanstilsynet.

The report of 28 October 2026 covers one oppdragsansvarlig revisorFinanstilsynet and four engagementsFinanstilsynet, referred to as A to D, after meetings on 23 and 28 April and 4 June 2026. For each engagement Finanstilsynet concludes that the auditor lacks sufficient and appropriate audit evidenceFinanstilsynet, so the issued audit opinions have no basisFinanstilsynet. Some breaches are assessed as gross.

Revenue, deferred tax assets, shares held as non-current assets and goods purchases are among the material items affected. In one engagement a recognised deferred tax asset made up 26 per cent of total assets and 30 per cent of equity after three years of large deficits, yet the auditor had identified no risk, designed no procedures and obtained no evidence for the estimate, despite the heightened duty of professional scepticism for estimates. In the same engagement all revenue came from related parties, companies X and Y in which the audited entity was the sole holder of voting rights, without the mandatory procedures for related-party transactions.

In another engagement the auditor confirmed purchases with the parent for 30 per cent of goods purchases but performed no procedures for the remaining 70 per cent, and tested samples of ten and fourteen vouchers on judgemental selection without demonstrating that each unit could be selected or documenting what was checked. In a third engagement the auditor had not assessed whether gross recognition of revenue complies with accounting rules where several indicators point to agency business requiring net recognition, and had not documented the audit of revenue completeness at all.

Across the engagements the auditor identified management override of controls as a fraud risk but performed none of the required procedures, paid no sufficient attention to related-party transactions, and did not check whether management meets its duty to keep books in accordance with the law. Risk assessments are in places fragmented and cannot support proper planning, and the work was not performed as planned.

As the appointed auditor the firm is responsible for ensuring that engagements comply with the revisorloven and good auditing practiceFinanstilsynet, regardless of the individual partner's responsibility. Finanstilsynet concludes that quality management does not meet revisorloven section 7-1 and ISQM 1Finanstilsynet: monitoring and remediation failed because identified weaknesses were not followed up with adequate routines, concrete measures and evaluation of effect.

The background is a 2025 inspection directed at inventories and deferred tax assets that concluded with breaches in 14 engagements and an overtredelsesgebyr, and a Revisorforeningen follow-up control in September 2025 with the result not approved, referred to Finanstilsynet on 15 December 2025. Unic Revisjon states in a reply to the preliminary report of 1 September 2026 that it takes the findings with the utmost seriousness and lists measures taken and decided, considered by the board on 31 August 2026.

Finanstilsynet expects the board, the daglig leder and the kvalitetsstyringsansvarlig to know the requirements of section 7-1 and ISQM 1 at all times and to ensure guidelines and routines tailored to the firm, including monitoring. It will examine in later inspections how quality management is operationalised, whether cyclical controls follow the quality document, and whether selected engagements are representative and risk-based.

Legal basis is Lov om revisjon og revisorer (revisorloven) sections 7-1, 9-4 and 9-9, together with ISQM 1Finanstilsynet.