Audit Committees
Audit Committees
Independent Audit Regulatory and Compliance Advisory
Danish and European audit regulation
Appointment of statutory audit firms
Appointment of statutory audit firms
Be compliant with Article 16 of the EU regulation

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Read more about Inspicio
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Inspicio is an independent niche-based consulting company within the area of audit regulation, including Danish and European rules for and about Audit Committees. We advise and provide consultancy services in all areas of the Audit Committee's work, from establishment to evaluation, regulatory compliance and the selection of auditors for courses, training and workshops.

We assist to ensure that the Audit Committee acts in full compliance with applicable rules and recommendations, both in relation to "hard law" and "soft law", while creating the highest possible value for the company through focused, targeted and effective efforts.

Read more about the legal requirements to the Audit Committee and our services

Inform the Board of Directors of the outcome of the statutory audit, including the financial reporting process

The Audit Committee shall inform the Board of Directors of the outcome of the statutory audit, including the financial reporting process. We advise and assist the Audit Committee to comply with the obligation to inform the Board of Directors. Inspicio has the capability to advise and assist the Audit Committee in being compliant with the obligation to inform the Board of Directors, as well as how this information is communicated most effectively and comprehensively.
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Monitor the financial reporting process and the statutory audit of the annual and consolidated financial statements

The Audit Committee shall monitor the financial reporting process and submit recommendations or proposals to ensure its integrity. The Audit Committee shall also monitor the statutory audit of the annual and consolidated financial statements. Findings and conclusions from the quality assurance review made by the competent authority should be taken into account. Inspicio has the capability to advise and assist the Audit Committee in the monitoring tasks.
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Monitor the effectiveness of the internal quality control and risk management systems and internal audit

The Audit Committee shall monitor the effectiveness of the company's internal quality control and risk management systems and, where applicable, its internal audit regarding the financial reporting of the audited entity, without breaching its independence. Inspicio has the capability to advise and assist the Audit Committee in the above-mentioned monitoring and assessment. This may include identification of relevant areas and processes and the evaluation thereof, based on the procedures and internal controls, adopted by the Board of Directors or the Executives.
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Review and monitor the independence of the statutory auditors or the audit firms

The Audit Committee shall review and monitor the independence of the statutory auditors or the audit firms in accordance with section 24-24c of the Danish Act on Approved Auditors and Audit Firms, as well as Article 6 of the Regulation (EU), and in particular the appropriateness of the provision of non-audit services to the audited entity in accordance with Article 5 of that Regulation. Inspicio has in-depth knowledge of the provisions on auditor's independence and, therefore, has the capability to advise the Audit Committee on compliance with the rules.
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Appointment of auditors for election in accordance with Article 16 of the Regulation (EU)

The Audit Committee is responsible for the appointment of auditors for election in accordance with Article 16 of the Regulation (EU). Inspicio may advise and assist the Audit Committee to comply with the requirements of Article 16 and provide an overview and structure of the audit tender process.
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Other advisory services and consultancy

Inspicio advise and conduct consultancy with practical establishment of Audit Committees, as well as preliminary and continuous assessment and evaluation of the composition and qualifications of the Audit Committee. In addition, Inspicio organizes courses and workshops targeted at Audit Committees., including training sessions and workshops. We assist to ensure that the Audit Committee creates the highest possible value for the company, by courses, training and continuous updating on the latest legal requirements.
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